IPO Mutandis, an industry group specializing in daily consumer goods, announced on Friday, November 16, Adil Douiri. The subscription date is from 3 to 7 December 2018. The introductory price is set at DH 180 and DH 170 for small holders. Here are transaction details of 400 MDH.
Mutandis organized a press conference on Friday, November 16th, which published its IPO on the Moroccan market. The industry group has just received from the Moroccan Capital Market Authority (AMMC) to join the Casablanca Stock Exchange.
– type of operation : IPO with an assignment of 1,029,537 shares and increase in share capital by issuing 1,192,686 shares.
Regarding the sale of shares, Adil Douiri made the following clarification:
– this will be carried out by the Holmarcom group, which wants to take over the majority share and whose presence on this tour may have accompanied the founder.
and the Spanish fund "Inversiones Freira", which is currently in the liquidation phase.
– Number of shares offered : 2,222,223 shares
– introductory price : 180 DH / proportion (170 DH / fraction for small carriers).
It should be noted that this is MAD 170 / shares for the first 50 shares granted to natural or legal persons in accordance with Moroccan or foreign law, within the limits of 198,281 shares.
–Total amount of transaction : 400 MDH
–Subscription period : from 3 to 7 December included.
According to the management, goals IPOs are:
> Regularly fund certain investment for growth in Morocco, Africa or Europe.
> Share households with the general public and institutional "future growth fruits" with the expansion of Mutandis's share (around sixty shareholders before the IPO).
> Strengthen the reputation of the group and allow it to access banking or compulsory financing "under the best conditions".
Today, Mutandis has 9 factories in Kenitra, Berrachid, Casablanca, Safi, Agadir and Dakhla and has about 3,200 employees.
The Group owns and develops 7 national main brands : Magix and Maxi in detergents, Anny, Josiane and Marine in seafood, Marrakech and Maxy Pulp in fruit juices.
The company exports 34% of its turnover, half in Africa, and the other between the European Union, the Middle East and the United States.
On the financial side, sales of Mutandis annually increased on average by 6% each year between 2013 and 2018 and should reach around 1,36 billion dirhams in 2018.
In the last three years (2016, 2017 and 2018), the group distributed a dividend of DH 7.50 / share with a nominal value of MAD 100, which at the IPO price represents a yield of more than 4% per annum. . The future shareholders who will participate in the IPO will receive a coupon in 2018. Adil Douiri has pledged that the dividend distributed in 2019 would also be DH 7.50 per share.
Here's the perfect video of the press conference broadcast live by Le Boursier: