In just six trading sessions, Vicenne’s stock surged by an astonishing 76.7%, driven by overwhelming investor demand. Initially priced at 236 dirhams per share, it closed at nearly 417.8 dirhams only five days later. Such a dramatic rise is exceptionally rare for a newly listed company and has quickly silenced the cautious forecasts that accompanied its IPO.
The tone was already set when the offering was oversubscribed 64 times—a strong signal that the market saw something compelling. Unlike other IPOs that often lose steam after the initial buzz, Vicenne continues to attract strong interest, underpinned by tangible financial strength and sector momentum.
Operating in a healthcare sector that’s undergoing rapid transformation, Vicenne stands out by delivering consistent, sustainable growth rather than riding a wave of hype. Over the past two years, the company’s revenue has grown by nearly 28%, and its profitability continues to improve year over year. The EBITDA margin projected for 2024 exceeds 19%, up from 15% the year before, reflecting a steady upward trajectory.
What’s most striking is that this performance doesn’t yet reflect the full impact of its stock market debut. The company is now preparing to roll out a series of acquisitions, both in Morocco and across West Africa, backed by a war chest that could reach up to one billion dirhams. The expansion plan targets countries like Senegal and Côte d’Ivoire, where Vicenne intends to replicate its proven business model.
The company’s development roadmap is built on three strategic pillars: acquiring complementary businesses, expanding regionally, and diversifying its service offerings. This clear structure provides investors with strong visibility and confidence in Vicenne’s long-term growth potential. By 2030, projections suggest the company’s net profit could double, reaching around 230 million dirhams.
Vicenne’s IPO was also notable for its disciplined approach to valuation. Its initial earnings multiple was in line with market averages, which helped establish credibility and attract serious investors. Since then, the stock has soared, but analysts maintain that its current valuation still aligns with its long-term potential.
More broadly, the healthcare sector in Morocco—and across the region—is benefiting from favorable macro trends: an aging population, expanded access to medical coverage, and increased government investment. At the same time, private hospital networks are growing rapidly to meet long-standing structural gaps in healthcare delivery.
Vicenne is clearly tapping into this broader momentum. But what sets it apart is how it’s doing so—with a measured growth strategy, a distinctive market position, and a proactive expansion plan. In a matter of days, the company has emerged not just as a market favorite, but as a new benchmark for quality and ambition in the Moroccan stock market.
