Once again a new company wishing to penetrate the Moroccan financial market sees the results of the subscription exceeded all expectations with exceptionally high figures.
This paper rush fees from investors shows some confidence in the Casablanca stock exchange despite the light bursts that have known the Moroccan place lately.
This influx of demand there is a positive sign in the confidence that place the shareholder in the company or should it rather see no sign that a mere speculation on the introduction in order for carriers to make a nice capital gain in the short term?
In any case one thing is sure, by dint of seeing satisfaction rates as low as the Moroccan stock market risk of a leak of the small shareholders unable to underwrite hundreds of thousands of dirhams in the hope of awarded tens of securities and thereby lose its role as a drain people's savings in a medium to long term to finance the Moroccan companies.
The results of the subscriptions are :
- Global
Amount subscribed: 14,269,160,400 dhs
Action requested: 16,214,955 shares
Shares allotted: 270 045 titles
satisfaction rate: 1.67% Number of
soscripteurs: 8012 people
- Order 1 : reserved for individuals expressing orders below 400 000 dhs
Amount subscribed: 798 387 040 dhs
Action requested: 907,258 titles
Shares allotted: 81,014 titles
satisfaction rate: 8.93% Number of
soscripteurs: 5986 people
- Order 2: for natural persons and legal persons (in brackets) included expressing orders between 400 000 and 10 000 000 dhs dhs.
Amount subscribed: 5,973,220,000 dirhams (including PM 781057000)
Action requested: 6,787,750 shares (including 887,565 PM)
Shares allotted: 81,014 titles (including PM 11 070)
Satisfaction Rate: 1.19 % (including 1.25% PM)
soscripteurs Number: 1 701 people (PM 161)
- Order 3: reserved for institutional
Amount subscribed: 7497553360 dhs
Action requested: 8,519,947 shares Shares allotted
: 108 017 titles
satisfaction rate: 1.27% Number of
soscripteurs: 325 institutional
So in the end despite an early closure May 31 is only one day after launching the operation, the mass subscription has not been curbed.
Note however that unlike the previous introduction there is an improvement in the satisfaction rate of the first category for small investors since they are awarded a higher rate of satisfaction even if they remain below 10%
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