Cell exchange. Disty Technologies IPO: 1.34 signed up for operation

1255 individuals, 24 legal entities and 85 institutions have joined the operation. Capitalization reaches 283 MDH. From now on, the company aims to modernize the internal structure and structure itself to support the expected growth.

On July 20, the first day listing ceremony for Disty Technologies was held at the Casablanca Stock Exchange. This SME has become the first value for integration alternative market stock market.

The share price was set at AED 284. The total amount of the transaction is displayed almost 172 million dirhams. The operation was carried out by increasing capital and selling shares. She was open to all investors.

READ ALSO: IPO: what you need to know about Disty Technologies, a newcomer to the stock market

Disty Technologies was founded ten years ago by Younes Elhimdi. The investment fund AfricInvest has supported it since its launch through the PME Croissance, a public-private fund created by the government in 2011. PME Croissance held 58.3% of the capital prior to the IPO. The IPO offers access to the PME Croissance fund, which will now hold only 10% of the capital.

Strong mobilization of people

During the conference, the general manager of the Casablanca Stock Exchange, Tariq Senhaji, gave some figures regarding the IPO.

The subscription amount is 230 MDH. 809,905 shares were requested, i.e. subscription 1.34 times. 1,364 subscribers were counted, including 1,255 individuals.

Of the placed shares, 62.7% were transferred to institutions, 5% to legal entities and 32.3% to individuals.

Main post-IPO projects and challenges

In a digression provided by Médias24, Younes Elhimdi shared his impressions of the day to market and his views on the challenges ahead. “The Disty Technologies IPO project has been successful despite the current economic, financial and investment environment. I would like to thank the Moroccan Capital Market Authority (AMMC), the Casablanca Stock Exchange, the Attijariwafa Bank and all the banks, investment companies and investors who participated in the success of this introduction. I remain convinced that our sector is growing, that our company can still develop and that we can double our turnover in the next three to four years. Our IPO gives us the funds to do so. It also gives us access to much easier and more flexible funding. »

Now small and medium businesses will have to continue their efforts in a still unclear economic context. “Initially, we have projects in place for internal infrastructure and to digitize, strengthen and consolidate our organization so that it can deliver the expected growth. We also have organic growth development projects with other partnerships planned in the development phase. We will announce them in due course,” the leader explains.

Younes Elhimdi also returned to the inflationary context and supply disruptions seen in his industry. He is sure: “Of course, there is a context of inflation that applies to all products. In the computer sector, this inflationary momentum is somewhat reduced because manufacturers ensure that the consumer can handle growth under control. We work with manufacturers that adapt to their market and their territory. The Moroccan market is very important for all global manufacturers. He is one of the most consistent and mature. Manufacturers will not fail to support him, as was the case during the pandemic, during which the domestic consumer did not lack products. »