
Listed Companies: Winners and Losers of the First Nine Months
The third quarter of 2025 reveals contrasting performances among companies listed on the Casablanca Stock Exchange, with significant growth for some and declines for others.
Stay ahead with the latest reports, earnings calls, and market commentary from the Casablanca Stock Exchange.

The third quarter of 2025 reveals contrasting performances among companies listed on the Casablanca Stock Exchange, with significant growth for some and declines for others.

HPS's AccelR8 plan aims to transition to a more recurring and scalable SaaS model. Analysts note a record backlog and maintain a positive outlook despite short-term currency impacts.

Sgtm will offer shares with four different order types, targeting the public for a total of 5 billion dirhams. The subscription period runs from December 1 to 8, with the first listing scheduled for December 16.

CMGP Group has successfully completed a private placement bond issuance totaling 700 million dirhams, aimed at financing its growth initiatives. The issuance was structured in two tranches.

The Moroccan stock market is experiencing a resurgence in IPOs, expanding beyond large corporations to include mid-sized companies across various sectors. This trend reflects a growing ecosystem where businesses seek capital investment and public funding for development.

The Casablanca Stock Exchange experienced a decline in the MASI index, which fell by 3.23% over the week. The index closed at 18,645.53 points after a volatile trading session.

Akdital has raised 1.2 billion dirhams through a structured bond issuance to support its international expansion and diversify funding sources. The group plans to enhance its national network and target markets in the UAE and Saudi Arabia.

CFG Bank's net banking income reached 909 million MAD by September 30, 2025, marking a 34% increase. The bank's credit and deposit portfolios also grew by 20% over the past year.

Akdital's management confirmed all 2025 objectives during a recent conference, despite media speculation causing investor anxiety. The company's growth trajectory remains robust, with significant revenue projections through 2030.

Four new stocks will replace Managem, Mutandis, CIH Bank, and HPS in the MASI 20 index, enhancing its representation of the market. The MASI 20 serves as a benchmark for investors.

The scoring system measures momentum quality by combining investor participation with key technical signals. This week highlights CFG Bank, RDS, and Marsa Maroc as top performers.

CFG Bank's strong half-year results have led Saham Bank to increase its price target for the bank, citing unexpected resilience in client deposits and robust private banking performance.