While the operation of introducing the company was beginning Trarem Africa This Monday, October 20 and ended on 22, the group decided to postpone his plan to raise 100 million dirhams in the Moroccan market to wait until the current turmoil on the Casablanca stock have passed.
If the reason for this postponement may appear consistent, it raises some questions. The Casablanca Stock Exchange
unlike other global exchanges, including those in emerging countries did not experience losses abyssalles with falls of more than 30% or 50% since the beginning of the year, at the closing to 17 / 10 she was virtually in equilibrium with an annual performance of -0.96% MASI just not enough to cry foul given the world situation.
Also the call to public savings was relatively small with only 100 million dhs for a place that builds a little more than 600 billion dirhams, the application did not seem so excessive.
So why such a delay?
The company feared it not succeed in placing all the securities, especially with the original syndicate which could appear as a fair bit with only one bank, BCP, and two brokerage firms and SAFABOURSE Upline?
One thing is for sure the confidence of individuals who have flocked en masse in recent times on the site quickly became disillusioned Moroccan with recent introductions that have not held great promise touted by many analysts and investment advisors. Worse
they themselves known negative performance with courses that have fallen below their IPO price when the standards so far was winning 20% to 30% on the first week of trading.
In fact, it seems simply that the Moroccan stock market would reach a certain stage of more mature or proven business plan too much optimism would no longer dream and turn heads, now the investors want more concrete and less than forecast, and they would operate more selective in their investment choices to the detriment of SMEs that unfortunately does not enjoy the same notoriety as major groups in Morocco.
Ultimately, this could be a blessing in disguise, valuations of future recruits will be required to document more wisdom and less complacent optimism based on overly optimistic visions of the future, thus driving from investors speculators trading days of the first preference for those with a vision to longer term.
2009 should confirm this trend, why not with a dominant role of the Moroccan state news provider listed companies with the use of privatization, it is believed already to the Royal Air Morocco and its subsidiaries Atlas Blue and Atlas Hospitality or even highways in Morocco.
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