Risma Announces Dh300‑Per‑Share Capital Raise to Fuel Controlled Expansion

Moroccan hotel group Risma has opened a new chapter of growth by launching a DH450 million capital increase priced at DH300 per share, without a preferential subscription right. The funds will mainly finance the refinancing of the Centre Multifonctionnel de Guéliz (CMG) acquisition and the development of new hotels, including a greenfield project in Tangier. The move comes amid a tourism boom – 20 million visitors expected in 2025 – and reflects Risma’s ambition to expand its portfolio to 28 hotels and over 5,000 rooms by 2030 while maintaining a disciplined dividend policy. The capital raise also aims to double the free‑float to roughly 20 %, improving liquidity and positioning Risma as the only hotel group listed on the Casablanca Stock Exchange. With a 2024 occupancy rate of 59 % versus the national average of 51 % and an EBITDA margin of 36 %, the group is displaying strong financial health that supports its aggressive yet measured expansion strategy.

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