Vicenne’s debut on the Casablanca Stock Exchange has shattered expectations, drawing unprecedented demand from investors across Morocco and beyond. The offering, officially launched on Tuesday, was oversubscribed by an astonishing 64 times, with nearly 38,000 participants vying for a stake. While the company was only seeking 500 million dirhams in fresh capital, the total subscription volume reached a staggering 32.1 billion dirhams.
This overwhelming response translated into a global satisfaction rate of just 1.56%, highlighting the intensity of competition and the rare enthusiasm for a first listing. The moment was marked with a high-profile celebration, reflecting both the symbolic and financial weight of the occasion.
According to Tarik Senhaji, CEO of the Casablanca Stock Exchange, the success of the IPO underscores a deep reservoir of market confidence in Vicenne’s business model and long-term prospects. He believes this listing will not only bolster the company’s development strategy but also provide the resources needed to expand its workforce and operational capabilities.
Retail investors made up the majority of the subscriber base, securing over 64% of the allocated shares. Institutional players received just under 27%, while corporate entities accounted for a little over 8%. Among individual subscribers, a vast majority—more than 99%—were Moroccan residents, with non-residents representing less than 1% of the turnout. Interestingly, foreign institutions were more prominent, taking up more than 17% of their category’s allocation.
The age distribution of investors also painted a revealing picture: adults aged 35 to 60 led the charge, making up 42% of subscribers. Minors surprisingly came in second at 25%, followed by seniors over 60 at 12%. Young professionals aged 25 to 34 represented 15%, while those between 18 and 24 years old made up the remaining 5%.
Geographically, the Casablanca-Settat region overwhelmingly dominated the demand, accounting for nearly three-quarters of all shares allocated. Rabat-Salé-Kénitra followed at a distant 13%, trailed by Fès-Meknès, the Oriental region, and Tangier-Tetouan-Al Hoceima.
But the buzz wasn’t limited to Morocco. Investors from 48 different countries joined in, demonstrating strong global appetite. Among the top contributors were the UK, UAE, France, the US, and Luxembourg, with investor satisfaction rates in those countries ranging between 0.97% and 1.69%.
Now trading under the ticker symbol VCN, Vicenne has entered the main F market in the health sector’s continuous trading group 1. The company’s market capitalization now exceeds 2.42 billion dirhams, earning it the 40th spot among the 78 companies listed on the exchange.
