Stocks Market
Crédit du Maroc Approves 700 Million Dirham Capital Increase with Preferential Subscription Rights
The Extraordinary General Meeting of Crédit du Maroc (CDM) has given the green light to a capital increase of up to 700 million dirhams, including issue premium. The operation will involve issuing new ordinary shares of 100 dirhams each, to be fully subscribed and paid in cash, with shareholders’ preferential subscription rights maintained and tradable during the subscription period.
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On Friday, 27 March 2026, the Extraordinary General Meeting of Crédit du Maroc (CDM) voted to approve a capital increase of a maximum amount of 700 million dirhams, inclusive of the issue premium. The resolution maintains the preferential subscription right (DPS) for existing shareholders, which will be negotiable throughout the subscription period.
Details of the Share Issuance
The increase will be carried out by issuing and creating new ordinary shares, each with a nominal value of 100 dirhams. These shares will be listed on the Casablanca Stock Exchange.
The new shares must be fully subscribed and paid up in cash; settlement by offsetting against liquid and due receivables is expressly excluded. Once issued, the new ordinary shares will be fully assimilated with the existing shares of the company and will carry the right to all dividend distributions decided after their subscription date.
As an exception, new ordinary shares issued between 1 January of a fiscal year and the date of detachment of the dividend relating to the preceding fiscal year will not entitle holders to that dividend (except for exceptional reserve distributions). Consequently, such shares will only be fully assimilated with the old shares after the dividend detachment date, or, if no dividend is distributed, after the annual general meeting.
In accordance with prevailing regulations, shareholders will benefit from a preferential subscription right proportional to their current shareholding. This right will be tradable during the subscription window.