🇲🇦 Casablanca Stock Exchange

Societe Generale Group has signed two contracts with Saham Group, subject to the approval of the competent authorities, with a view for Societe Generale to sell Société Générale Marocaine de Banques including its subsidiaries* and La Marocaine Vie. The two Groups also outlined the framework for a long-term business partnership.

CFG Bank's IPO was, unsurprisingly, a great success with investors. According to several members of the underwriting syndicate, data collected on Thursday, a few hours after the close of subscriptions, indicates that the operation was oversubscribed between 25 and 30 times by an estimated 20,000 investors. This figure could change in either direction once all orders have been processed. 

On November 22, 2023, CFG Bank obtained AMMC, approval under reference VI/EM/031/2023 for an initial public offering on the Casablanca Stock Exchange. 

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