In short
- An IPO is the first sale of a company’s shares to the public.
- The prospectus approved by the AMMC is the document to read before subscribing.
- When demand is high, allocation is cut: you often get far fewer shares than you asked for.
- An IPO is not a guaranteed gain: the price can later fall below the IPO price.
What is an IPO?
An initial public offering lets a company bring in new shareholders by offering its shares to the public, then listing them. It can be a capital increase (new money for the company) and/or a sale by existing owners. For the investor, it is a chance to buy shares at a price fixed in advance, often without brokerage fees.
Recent IPOs in Casablanca
| Company | Sector | Year |
|---|---|---|
| TGCC | Construction | 2021 |
| CMGP Group | Agriculture | 2021 |
| Akdital | Healthcare | 2022 |
| Cash Plus | Financial services | 2025 |
| Vicenne | Medical equipment | 2025 |
| SGTM | Construction and infrastructure | Late 2025 |
How to subscribe, step by step
Open a securities account early
Subscription periods often last only a few days. See our broker comparison.
Read the prospectus
It describes the business, accounts, plans, use of funds and risk factors.
Choose how many shares
The price is fixed in advance (or within a range). Orders are split into categories with their own rules.
Subscribe during the offer
Through your bank, broker or online. The amount is blocked on your account.
Receive your allocation
If the offer is oversubscribed, you get part of your request and the rest is refunded.
First trading day
The shares start trading. Price limits can spread the rise or fall over several sessions.
Risks of an IPO
- No guaranteed rise: after the excitement, the price can fall.
- A short history as a listed company.
- A demanding price that already includes future growth.
- Hype on social media amplifies both excitement and disappointment.
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.
