Latest news with #Vicenne
Morocco World
3 days ago
- Business
- Morocco World
Casablanca Stock Exchange Hits MAD 1 Trillion Mark for First Time in History
Marrakech – The Casablanca Stock Exchange closed on a high note Friday, with its benchmark MASI index surpassing the symbolic threshold of 19,000 points and reaching a record MAD 1 trillion (US$100 billion) market capitalization for the first time in its history. The MASI index gained 1.30% to close at 19,168.83 points, bringing its year-to-date performance to an impressive 29.75%. The MASI 20, which tracks the 20 most liquid companies, rose 1.28% to 1,578.22 points, while the MASI ESG advanced 1.26% to 1,318.74 points. Trading was robust, with transactions reaching MAD 466 million (US$46.6 million) on the central market. Attijariwafa Bank led activity, accounting for MAD 62 million (US$6.2 million) in trades and posting a significant 3.57% gain to close at MAD 725 (US$72.5). Maroc Telecom followed closely with equivalent trading volume and a 2.54% increase to MAD 121 (US$12.1). Among emerging stocks, Vicenne, a medical equipment company, continued to capture investor attention. Introduced on the exchange just one week ago, the stock is now trading at MAD 345 (US$34.5), representing a remarkable 46% surge since its initial public offering. Vicenne's IPO raised MAD 500 million (US$50 million) and was oversubscribed 64 times, generating demand worth MAD 32 billion (US$3.2 billion). Other notable performers included Maghreb Oxygène, which jumped 9.96% to MAD 425 (US$42.5), and Sothema, gaining 9.56% to close at MAD 1,810 (US$181). On the downside, Sanlam Maroc recorded the day's steepest decline at 6.75%, falling to MAD 1,865 (US$186.5). This market rally comes amid favorable economic conditions despite global uncertainties. According to the High Commission for Planning (HCP), Morocco's economic growth accelerated to 4.8% in the first quarter of 2025, up from 3% a year earlier. This performance was primarily driven by a 4.6% increase in non-agricultural activities, stimulated by major infrastructure projects related to the 2025 African Cup of Nations and the 2030 World Cup. Sectoral indicators confirm this positive trend. Cement sales, a key barometer for construction activity, grew by 9.8% to reach 6.8 million tons by the end of June, despite the slowdown during Eid Al-Adha. The automotive sector posted impressive growth, with sales up 36.6% in the first half of the year, totaling 88,728 units. Agriculture also contributed to the recovery with a 4.5% increase in added value during the first quarter. This strategic sector still represents between 11% and 15% of GDP and accounts for nearly 40% of national employment. On the external front, the trade deficit widened to MAD 133 billion (US$13.3 billion) by the end of May, primarily due to increased imports of capital goods and construction materials. However, this deficit is partially offset by a growing surplus in services, fueled by tourism recovery and strong business services. The current account deficit remains contained at around 2% of GDP. Inflation continues to decline, averaging 2% in the first quarter before dropping to 0.7% in April and 0.4% in May, mainly due to falling food prices. In this context, Bank Al-Maghrib has maintained its key interest rate at 2.25%, awaiting greater visibility on geopolitical tensions and the international environment. Public finances remain under control, with the central bank projecting a budget deficit of 3.9% of GDP for 2025, despite sustained public investment. This trajectory is supported by increased tax revenues and rigorous expenditure management. Read also: Morocco to Help Mauritania Create Nouakchott Stock Exchange Tags: Casablanca stock exchange
Zawya
7 days ago
- Business
- Zawya
Moroccan healthcare company Vicenne's IPO oversubscribed 64 times
The initial public offering (IPO) of Moroccan healthcare company Vicenne was oversubscribed 64 times, the Casablanca stock exchange said on Tuesday. The offering, the first IPO this year, attracted more than 32 billion dirhams ($3.5 bln) in demand for 500 million dirhams in shares. The IPO drew 37,674 investors, including more than 36,000 individual investors from 49 different nationalities. (Reporting by Ahmed Eljechtimi, Editing by Louise Heavens)
