Disty Technologies' IPO has been subscribed 1.34 times by 1,364 subscribers, Tarek Senhaji, CEO of the Casablanca Stock Exchange, announced on Wednesday.
Al-Senhaji said at the company's initial listing ceremony, that the total amount subscribed at the end of this process amounted to more than 230 million dirhams, equivalent to 809905 shares required, and a total satisfaction rate of approximately 74.64%.
To add that Disty Technologies opted for the IPO to raise a total of AED 171 million through the sale of shares, along with a capital increase of AED 62 million.
The number of shares granted was 100% of the shares required, noting that 12 regions had subscribed to the IPO of this operator for the distribution of IT products and solutions.
By type of investor, 62.71% of the shares are allocated to institutional investors (85) who have subscribed to the public offering, while 5% of the subscribers are legal persons (24) and 32.3% are natural persons (1,255).
Institutional investors are 100% Moroccan, as are the legal persons that have subscribed to the IPO, while 99% of the natural persons are Moroccan and 1% are foreign.
By regions, investors from Casablanca-Settat acquired 81.44% of the shares, ie 729, while subscribers from Rabat-Salé-Kenitra and Fez-Meknes held 4.12% of the shares (164) and 1.74% (92), respectively.
Going public, Disty Technologies represents the 77 listed companies and constitutes the first transaction in the "Alternative A" booth for small and medium-sized enterprises (SMEs) and the first introduction to a company accompanied by the Elite program, launched by the Casablanca Stock Exchange.
Security is constantly quoted from Wednesday, under the headline "Disty Technologies."
On this occasion, the Chairman of the Casablanca Stock Exchange, Kamal Mikdad, stated that "the success of this IPO in the current context represents a great symbolism for the Casablanca Stock Exchange in particular and the financial market in general."
C'est un signal de confiance très fort pour l'ensemble des acteurs économiques, et son succès illustre clairement la forte capacité de la Bourse de Casablanca à contribuer activement au financement du secteur privéain et au développement de la PME adds.
Disty Technologies is the first company to enter the new alternative market of the Casablanca Stock Exchange. It is a market that we have created within the stock exchange thanks to the adoption of our new general regulations, which are exclusively for small and medium-sized companies, explained Mr.
Mekdad explains that it benefits from revised rules and many reductions in terms of acceptance criteria, information, and governance obligations.
This IPO is also the first for a company to complete the Elite Course, the SME Support Program. “I hope that this will be a role model for other SMEs and encourage many other companies to make the decision and go public,” he concluded.