| Name | SGTM – Société Générale des Travaux du Maroc |
|---|---|
| Sector | Construction, civil engineering and infrastructure |
| Listed | Casablanca Stock Exchange, since late 2025 |
Who is SGTM?
SGTM is one of Morocco’s oldest and largest construction groups. It works on major infrastructure projects: dams, bridges, roads and motorways, ports, railways and large public buildings. Its know-how in heavy civil engineering lets it bid for the most technical projects, in Morocco and in several African countries.
The SGTM IPO
SGTM listed on the Casablanca Stock Exchange at the end of 2025. Demand from individuals and institutions was much higher than the number of shares offered, so individuals received only part of what they asked for. The details (price, number of shares, use of funds) are in the prospectus approved by the AMMC. See our guide how to take part in an IPO.
Why investors follow SGTM
- Strong public investment: the 2030 World Cup and rail, port, water and road programmes support demand for large projects.
- Complex projects, where there are fewer competitors.
- A well-known historic brand among public clients.
- An order book that gives visibility on future activity.
Risks to watch
- Dependence on public contracts: delays in state spending or payments hit activity and cash.
- Margins sensitive to the cost of materials, energy and labour.
- Working capital needs: big projects tie up cash before they are paid.
- Valuation: after the IPO excitement, the price may already include high growth hopes.
How to buy SGTM shares
Like any share listed in Casablanca, you buy SGTM through a securities account with a bank or brokerage firm. A limit order lets you set the maximum price you accept. All the steps are in our guide how to invest on the Casablanca Stock Exchange.
Frequently asked questions
Where can I see the SGTM share price?
On the chart above (delayed data), on the official Casablanca Stock Exchange website and on your broker’s trading platform.
Does SGTM pay a dividend?
The dividend policy is described in the prospectus and annual reports. The amount is voted each year by the general meeting.
This article is for information and educational purposes only. It is not investment advice or a recommendation to buy or sell any security. Investing in shares involves a risk of capital loss. Check figures against official sources (Casablanca Stock Exchange, AMMC) and consult a licensed professional. Read the full disclaimer.
