Home / Business and Economy / Moroccan Builder SGTM Seeks $545M IPO
Moroccan Builder SGTM Seeks $545M IPO
18 Nov
Summary
- SGTM aims to raise 5.04 billion dirhams ($545 million) through its IPO.
- The subscription period for the IPO is set from December 1 to December 8.
- SGTM operates in Morocco and six other African nations, including Senegal.
Moroccan construction company SGTM is set to launch an initial public offering (IPO) on the Casablanca stock exchange, following approval from the bourse regulator AMMC. The company intends to raise a significant 5.04 billion dirhams, equivalent to $545 million, through this public debut.
The subscription period for potential investors is slated to run from December 1 through December 8. This strategic financial move is designed to strengthen SGTM's market position both within Morocco and across the broader African continent.
With existing operations in six other African nations, including Senegal, Ivory Coast, and Burkina Faso, the listing is expected to boost the company's transparency and improve its access to financial markets, thereby funding its ambitious expansion plans.
