CMGP Group (Compagnie Marocaine de Goutte à Goutte et de Pompage) made a remarkable entry into the Casablanca Stock Exchange with its IPO, marking one of the largest public offerings in the history of the exchange. The operation, valued at 1.1 billion dirhams, was oversubscribed 37 times, reflecting high investor confidence in the company’s vision and potential.
Key figures from the CMGP IPO
- Share price: 200 dirhams.
- Total subscriptions: 40.69 billion dirhams.
- Shares requested: 203.45 million.
- Shares allocated: 5.5 million.
- Demand satisfaction rate: 2.7%.
- Number of subscribers: 33,771.
- Nationalities involved: 45.
- Regional participation: 12 Moroccan regions.
The IPO positioned CMGP Group with a market capitalization of 3.4 billion dirhams, securing the 34th spot among the 70 companies listed on the Casablanca Stock Exchange.
A record-breaking operation
This IPO is the third-largest in the history of the Casablanca Stock Exchange. The demand for CMGP shares highlights the company’s strong appeal, particularly among institutional investors who dominated the subscription process. Moroccan institutions accounted for 92.83% of the subscriptions, while foreign investors contributed the remaining 7.17%.
For individual investors, the demographic breakdown revealed some intriguing trends:
- 25% of subscribers were minors.
- 42% were aged 35–60, representing the largest segment.
- The youngest (18–24 years old) accounted for 5%, while seniors aged 60+ represented 13%.
By region, Casablanca-Settat led the charge, with 74.7% of subscriptions, followed by Rabat-Salé-Kénitra (12.2%), Fès-Meknès (3.99%), and Souss-Massa (2.66%).
A strategic leap for CMGP Group
CMGP’s IPO is more than just a financial milestone; it marks a turning point in the company’s trajectory. As a leader in water management systems and agricultural solutions, the group’s move to the stock market aims to:
- Accelerate its development: Expanding its reach and scaling operations to meet growing demands.
- Support national strategies: Contributing to Morocco’s water conservation and food security goals.
- Strengthen resilience: Investing in industrial diversification and environmentally sustainable practices.
“This listing is a testament to the collective success of our teams and the trust of our partners, investors, and collaborators,” stated the CEO of CMGP during the ceremony.
Boosting Morocco’s agricultural sector
CMGP’s inclusion in the Casablanca Stock Exchange underscores the importance of the agricultural industry in Morocco’s economy. The sector plays a pivotal role in addressing the challenges of water scarcity and food security, key components of the country’s New Development Model (NMD).
With the company now part of Group 1, a tier reserved for the most significant entities on the exchange, CMGP’s ambitions are clear: to solidify its leadership in agricultural innovation and contribute to a more sustainable future.
