On November 22, 2023, CFG Bank obtained AMMC, approval under reference VI/EM/031/2023 for an initial public offering on the Casablanca Stock Exchange.
The IPO will be carried out by means of a share capital increase reserved for the public, for a total amount of 599,999,950 Dirhams.
Pioneer in investment banking in Morocco, CFG Bank was founded in 1992 by Adil Douiri, Amyn Alami and Moroccan and foreign institutional investors. Since its inception, CFG Bank has established itself as one of the leading independent, multi-business investment banks in Morocco. Its strong positioning in several market segments has built its reputation.
In November 2015, CFG Bank launched its retail banking business with the promise of delivering premium service for the benefit of as many people as possible.
Since 2015, CFG Bank has been organized around two divisions, commercial banking and corporate and investment banking.
CFG Bank's IPO will enable it to strengthen its equity capital to support the rapid growth of its balance sheet, enhance its reputation and proximity to its partners and the general public, and open up its capital to employees and customers to involve them in the Bank's future growth.
The subscription period runs from Thursday November 30, 2023 to Thursday December 7, 2023 at 3:30 pm inclusive. The share price is set at 110 MAD.
CFG Bank shares will be on sale at all bank branches and brokerage firms.
CFG Finance, Upline Corporate Finance, BMCE Capital Conseil, CDG Capital and Attijari Finances Corp. are the Financial Advisors of the Operation.