Moroccan private hospital operator Akdital will launch an initial public offering (IPO) to raise 1.2 billion dirhams ($110 million) on the Casablanca stock exchange to fund its development plan.
The offering is scheduled to take place through a capital increase and a share sale with the subscription period running from Nov. 29 to Dec. 6, bourse regulator AMMC disclosed on Tuesday.
In March, Akdital CEO Rochdi Talib said to newsmen that the company was considering a listing to fund its expansion plans in Morocco and Africa.
In recent months, the bourse launched a campaign to encourage SMEs to issue offerings with the aim to increase new listings to 300 from 77 currently by 2035, in line with the recommendations of Morocco’s development model.
The model also aims to increase Casablanca’s stock exchange capitalization from 54% of GDP now to 70% by 2035.
ALM recalls that the last IPO on the Casablanca stock exchange took place in July.
