The Casablanca Stock Exchange has suspended trading in shares of mining company Compagnie Minière de Touissit (CMT) after investors filed a draft public takeover bid. The suspension took effect immediately on Friday at the request of the Moroccan Capital Market Authority (AMMC).
In a market notice (AV-2026-102), the stock exchange said the decision followed the filing of a draft public tender offer for CMT.
The suspension was made under Law No. 26-03 on public takeover offers and the Casablanca Stock Exchange’s General Regulations. Trading will stay suspended until the next steps in the takeover process are announced.
The move follows a change in CMT’s ownership that began earlier this year.
On 26 March, the company’s board was told that UAE-based Ayrad Group Limited had bought 100% of OSEAD Fund from Strategos Ventures Limited.
OSEAD Fund indirectly controls Osead Maroc Mining, which owns a 37.04% stake in CMT.
Under Moroccan law, anyone whose voting rights in a listed company go above 40% must make an offer to buy the remaining shares from other shareholders.
Ayrad Group and the Moroccan Interprofessional Pension Fund (CIMR), which owns 14.41% of CMT, have now submitted that draft offer to the AMMC.
Trading has been suspended while the regulator reviews the proposed offer price and terms. The measure is designed to ensure all investors receive the same information and to prevent insider trading and sharp swings in the share price.
CMT is one of the country’s biggest mining companies. It explores and processes silver rich lead and zinc concentrates at its main mining site in Tighza.
The company reported revenue of 690 million dirhams ($76m) in 2025 and a net profit of 196 million dirhams.
Almost half of CMT’s shares are publicly traded, meaning thousands of investors will be able to decide whether to sell their shares once the regulator approves the final offer.
