A medical equipment business offers its shares on the Morocco Stock Exchange to raise 500 million dirhams

Vicenne for medical equipment in Morocco intends to raise $ 500 million Dirhams ($ 54 million) through the first initial public offering on the Kingdom Stock Exchange this year and the second in the health sector. The offering process will take place by issuing 2.1 million new shares worth 236 dirhams per share, according to what the Moroccan authority for the Rapel market announced today. The subscription period was determined from June 30 to July 4 this year. The Moroccan company works in medical equipment in Morocco and a number of African countries through seven subsidiaries in Morocco, Tunisia, Senegal and Cote D’Ivoire. Her name was changed from “Best Health” to “Vicenne” last March, which belongs to “Best Financier”, the Bennani family investment group, which works in a number of sectors in the kingdom. An investment boom in the Morocco health sector The Morocco health sector is witness to a surge in private sector investments, as the government accepts the general coverage of health, and tightens special health groups in various cities of the kingdom. Akkalz, the largest hospital operator in the country, was the first company to include its shares in the stock market in 2022. Last year, Vicen made clear profits of about 91 million dirhams, an annual increase of 54%. While turnover amounts to about 837 million dirhams, a 20% increase annually. The company strives for this year, exceeding its revenue, a billion dirhams, to reach 1.8 billion dirhams at the end of the current contract. The Morocco Stock Exchange is a candidate to reach a market for one trillion dirhams this year. Read the details. The company said the purpose of the offer is to utilize “investment and growth opportunities and strengthen its location in the sectors in which it works, in addition to facilitating money through direct access to financial markets.” After the presentation process, the share distributed on the stock exchange will be between 20.7%, and ‘best financier’ will maintain the largest share of about 34.8%, followed by the private stock company investment fund with part of 24.8%, and the rest is distributed to members of the Bennani family. CFG Finance has been appointed a financial consultant and coordinator of the operation, along with Valoris Corporate Finance. The Morocco Stock Exchange has been recorded for years, although there is a big demand from investors on shares. The most important index “Mazi” has achieved about 20% since the beginning of the year. The number of companies currently distributing on the stock exchange is 77 businesses and the country strives to exceed 300 businesses by 2035.