Vicenne: The Record IPO That Changed the Game

The initial public offering (IPO) of Vicenne, a specialist in medical equipment, has captured the attention of investors, achieving a total subscription amount of 32.1 billion dirhams, which is more than 64 times the initially offered amount of 500 million dirhams. This unprecedented figure reflects the market's appetite and the positive image of the company. The IPO results were officially presented at the Casablanca Stock Exchange on July 15, confirming strong investor interest. The total subscribed amount reached over 32.12 billion dirhams, with 136 million shares requested, resulting in a subscription ratio of 64.3 times. The operation attracted no fewer than 37,674 participants, with an overall satisfaction rate of 1.56%. Individual investors played a significant role in this exceptional dynamic, accounting for over 36,000 subscribers from 49 different nationalities. They secured 1.37 million shares out of the 2.1 million allocated, resulting in a satisfaction rate of 2.29%. In contrast, institutional investors, who requested nearly 59 million shares, received only 0.97%. Notably, 40% of individual subscribers were first-time investors, having never participated in a stock market operation before. For market players, this influx of new entrants signals a return of confidence in stock market financing. Beyond the record subscription, Vicenne represents a renewal of the Moroccan primary market, driven by solid values and companies rooted in the real economy. With a promising sector like healthcare and a valuation deemed reasonable, Vicenne's IPO demonstrates that demand exists when transparency and education are prioritized.