This article was automatically translated from HIBAPRESS, the Arabic version:
HIBAPRESS-RABAT-PRESS RELEASE
CMGP Group obtained, yesterday Thursday, November 21, the visa from the AMMC for its listing on the Casablanca Stock Exchange. This introduction, amounting to 1,100,000,000 dirhams, aims to support the growth and development of CMGP Group. It will be carried out, on the one hand, by way of an increase in the share capital reserved for the public up to an amount (issue premium included) of 300,000,000 dirhams and, on the other hand, by way of transfer to the public of shares of the company for an amount of 800,000,000 dirhams.
The subscription period is scheduled from December 2 to December 6 inclusive. The share price is set at 200 dirhams.
Founded 30 years ago, the group is now operating in Morocco and 4 countries on the African continent (Senegal, Ivory Coast, Mauritania and Ghana) and aims to expand its presence in Africa. Today it has 6 industrial units (3 units for the production of irrigation booms and pipes for water infrastructure and 3 units for the production and packaging of fertilizers), 16 commercial agencies and 24 centers distribution.
With more than 40 strategic partnerships with international manufacturers and a portfolio of more than 4,000 product references, CMGP Group today claims to be “a leading player in the fields of irrigation, fertilizers and phytosanitary products “.
The group also operates in the realization of turnkey projects (from the study phase to installation and commissioning), particularly in the fields of irrigation, solar energy and water treatment for the private sector and hydro-agricultural infrastructure within the framework of public procurement.
Outlook and development strategy
Historically specialized in irrigation, the group began a gradual diversification of its activity in 2015, with the establishment of an industrial unit dedicated to the manufacture of PVC tubes for sanitation and drinking water supply. . This dynamic continued with the launch of two new activities, namely solar energy in 2019 and water treatment in 2022. In 2021, a major step was taken thanks to the merger with CAS, a major player in the agricultural supplies in Morocco.
At the same time, the internationalization strategy started in 2020 with a first establishment in Senegal, reinforced in 2022 by the acquisition of a key player operating in Senegal and Ivory Coast, then expanded to Ghana and Mauritania from of 2023.
After recording a consolidated turnover of 2.1 billion dirhams in 2023, CMGP Group plans to achieve growth of 11% in its turnover to reach 2.3 billion dirhams in 2024. According to the press release, “this good dynamic should be maintained over the coming years, thanks in particular to the strengthening of its industrial production capacities, the external growth operations that the group plans to carry out and the internationalization of its activities across the strengthening its presence in Africa.
The group also plans to consolidate its leading position in its main activities (agroequipment, agrosupplies and infrastructure) and to accentuate its development in recently developed segments (solar energy, water treatment, seeds in particular) in order to strengthen its positioning in said segments.
A billion in four days
In the financial sector, this introduction is eagerly awaited, because market players see CMGP Group as a promising company capable of boosting the agricultural and infrastructure sector in Morocco.
This is especially true since the irrigation and solar solutions sector is booming in Morocco, where agriculture plays a key role in the economy. CMGP Group, with its expertise and innovative solutions, is well positioned to capitalize on this growth. The company has already demonstrated its ability to provide efficient and sustainable solutions, meeting the growing needs of farmers and local communities.
It should also be noted that CMGP Group’s IPO comes at a time when the Moroccan stock market is showing signs of dynamism and attractiveness for investors. The funds raised should allow the company to finance its expansion projects, invest in research and development, and strengthen its operational capabilities. Investors, for their part, see CMGP Group as an opportunity to invest in a solid company with long-term growth prospects.
This operation is a strong signal of the vitality of the Moroccan stock market and investors’ confidence in the growth potential of CMGP Group. It also marks a positive development for the Casablanca Stock Exchange which has a fairly limited number of listed companies.
