Delayed for a few years now, is the key figure made by Mutandis, an industry group specializing in groceries, just launched Friday, November 16th. The introduction price is 180 DH and 170 DH for small holders. Here are the details of the transaction amounting to 400 MDH.
Mutandis organized a press conference on Friday, November 16, to announce its market introduction in the Moroccan market. The Industrial Group has just made progress from the Moroccan Capital Markets Authority (AMMC) to join the Casablanca Stock Exchange. The floating stock market will be 70%.
As a reminder, AMMC had already refused to grant a visa to the holding company led by Adil Douiri for the same operation.
>> Also read: Mutandis: The real reason why the CDVM visa refuses
>> Read also: Mutandis is considering its IPO
>> See also: Stock market: no visa for introduction of Mutandis
Here are the characteristics of the operation:
– Type of operation : IPO by mission of 1,029,537 shares and increase in share capital by issuing 1 192 686 shares.
As regards the sale of shares, it was carried out by the Holmarcom group, which was intended solely to support the Group's projects and the Spanish Inversiones Freira Fund, which is liquidated, according to Adil Douiri.
– Number of shares offered : 2,222,223 shares
– Initial price : 180 DH / share (170 DH / small carrier share).
It should be noted that this is a price of MAD 170 / share for the first 50 shares granted to natural or legal persons according to Moroccan or foreign law within the 198 198 share limit.
–Total number of transactions : 400 MDH
–Subscription Period : from 3 December to 7 inclusive.
According to the senior management, goal of IPO:
> Funding identified growth investments regularly in Morocco, Africa or Europe
> Share the public and institutional "fruits of future growth" of household consumption by expanding the ownership of Mutandis (sixty shareholders prior to listing).
> Strengthening the group's reputation and enabling access to banking or bond financing "under the best conditions".
Today, Mutandis has 9 plants in Kenitra, Berrachid, Casablanca, Safi, Agadir and Dakhla and has approximately 3,200 employees.
The group owns and develops 7 major brands: Magix and Maxi in laundry detergents, Anny, Josiane and Marine in seafood, Marrakech and Maxy Pulp in fruit juices.
The company says it exports 34% of sales, half of it in Africa and the other half between the EU, the Middle East and the United States.
On the financial side, Mutandi's sales increased by 6% per annum over the period 2013-2018 and should amount to approximately 1.36 billion dirham in 2018.
In the last three years (2016, 2017 and 2018), the Group has distributed a dividend of MAD 7.5 per share with a nominal value of MAD 100, which corresponds to a return of more than 4% per annum to the price of the IPO. .
Here is the full video of the conference broadcast live by Médias24: