The operation was subscribed 1.34 times by 1,364 subscribers
Disty Technologies is officially listed on the Stock Exchange. The official ceremony dedicated to this first listing was held on Wednesday in Casablanca. This IPO was, as specified by the CEO of this structure, Tarik Senhaji, “subscribed 1.34 times by 1,364 subscribers”.
As for the total amount subscribed at the end of this operation, it amounted, as he puts it, to “more than 230 million dirhams (MDH), corresponding to 809,905 shares requested, with an overall satisfaction rate of almost 74.64%”. In addition, Disty Technologies has, as he adds, opted for an IPO for “an overall raising of 171 MDH through a sale of shares, coupled with a capital increase of 62 MDH”.
Also, the number of shares granted reached 100% of the shares requested. In this sense, Mr. Senhaji reveals: “The 12 regions have subscribed to the IPO of this operator of the distribution of IT products and solutions”. Thus, 62.71% of the shares were, by type, allocated to institutional investors (85) who subscribed to the IPO, while 5% of subscribers are legal entities (24) and 32.3% natural persons (1,255). For their part, institutional investors are 100% Moroccan, in the same way as legal persons having subscribed to the IPO, while 99% of natural persons are Moroccan and 1% foreign.
By region, investors from Casablanca-Settat won 81.44% of the shares, i.e. 729, while subscribers from the Regions of Rabat-Salé-Kénitra and Fès-Meknes took 4.12% of the shares (164) and 1.74% (92) respectively. Through this IPO, Disty Technologies represents the 77th listed company and constitutes the first transaction in the “Alternative A” compartment dedicated to small and medium-sized enterprises (SMEs) and the first IPO of a company accompanied by the Elite program, launched by the Casablanca Stock Exchange.
Already, the value is quoted continuously from this Wednesday, under the wording “Disty Technologies”.
For his part, the Chairman of the Board of Directors of the Casablanca Stock Exchange, Kamal Mokdad, said: “The success of this IPO in the current context represents great symbolism for the Casablanca Stock Exchange in particular, and for the financial market in general”. “It is a very strong signal of confidence for all economic players, and its success clearly illustrates the strong capacity of the Casablanca Stock Exchange to actively contribute to the financing of the Moroccan private sector and the development of SMEs”, continues- he.
As he details, 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, and which is exclusively dedicated to SMEs”, he continues. As he explains, this market benefits from adapted rules and several reductions in terms of admission criteria and information and governance obligations.