Stock Exchange/Alt Market: Disty Technologies Opens Ball

The deed is done, Younes El Himdi, chairman and CEO of Disty Technologies, has rung the bell of the Casablanca Stock Exchange by registering its first listing on the market. The operation was signed up 1.34 times by 1,364 subscribers, which is a “prowess” according to the management of the stock exchange. Details of the IPO, which brought the number of listed companies to 77.

The management of the Casablanca Stock Exchange has never stopped mentioning this, Disty Technologies’ IPO is unlike the IPO of its predecessors, and that’s on several levels. During a ceremony following the effective introduction of Disty Technologies, held yesterday at the headquarters of the Casablanca Stock Exchange, Kamal Mokdad, Chairman of the Board of Directors of the latter, confirmed that “this first listing of Disty Technologies is memorable for the alternative market.” because it will be the first SME to join this market that we have created and developed for this type of operator. Our custom Elite SMB support program is also memorable, as Disty Technologies was one of the first companies to take advantage of this program.”

The Disty IPO exemplifies the stock market’s ability to mobilize savings in a massive and structured manner and funnel them into the productive sectors of the economy. “This support has been an asset and an additional opportunity for us to grow and become a major player in the sector. In addition, the simplification, flexibility of the IPO terms facilitated by the SME Offer and the creation of an alternative market strongly encouraged us to consider an IPO,” said Younes El Himdi, Chairman and CEO of Disty Technologies.

Textbook case…
Indeed, in just 10 years of activity, Disty Technologies managed to enter the financial market, opening up its capital to investors. Remember that SMEs are involved in importing and distributing new technological products and solutions. It was created by Younes El Himdi, who was accompanied from the beginning by Afric Invest through the public-private fund PME Croissance, created by the state in 2011 and who owned 58.3% of the capital before the IPO.

Thus, the Disty Technologies IPO offers a partial exit from the PME Croissance fund, which will now hold only 10% of the capital. To this end, Brahim El Jay, Managing Director of Afric Invest, who was present at the ceremony, recalled the “exemplary” course for SMEs. For him, “Disty Technologies is a textbook example in many ways. This is the story of a meeting with an entrepreneur who believes in his project. The company will open its doors to other operators who want to venture into this adventure in the stock market.

I am sure that Disty Technologies will continue to develop, its management is already working on it. In any case, the company attracted investor interest during the subscription period, which coincided with the Eid al-Adha week. In fact, the festivities did not dampen the enthusiasm of private investors.

… Followed 1.34 times
The IPO of Disty Technologies was signed 1.34 times by 1,364 subscribers, said Tariq Senhaji, CEO of the Casablanca Stock Exchange. As for the other technical specifications of the IPO, which took place from July 5 to 8, the total subscription amount at the end of this operation was more than 230 MDH, corresponding to 809,905 actions requested, with an overall satisfaction rate of almost 74.64%. In addition, the number of shares granted reached 100% of the requested shares, with demand coming from 12 regions of the country. By type of investor, 62.71% of the shares were distributed to institutional investors (85), while 5% of subscribers are legal entities (24) and 32.3% are individuals (1255).

Commenting on the number of individuals who signed up for the operation, Tariq Senhaji assured that “this is an exceptional figure in the sense that every year on the Casablanca Stock Exchange we register between 3,000 and 4,000 individuals who meddle in shares. In addition, institutional investors are 100% Moroccan, as are the entities that signed up for the Disty Technologies IPO, while 99% of individuals are Moroccan and 1% foreign.

By region, investors from Casablanca-Setta monopolized 81.44% of the shares, i.e. 729, while subscribers from the regions of Rabat-Sale-Kenitra and Fez-Meknes were entitled, respectively, to 4.12% of the shares (164) and 1 .74% (92). As a reminder, Disty Technologies chose the IPO to raise 171 MDH through a share sale combined with a capital increase of 62 MDH.

Sanae Raki / IVF Inspiration