Stocks Market
T2S Group Debuts on Casablanca Stock Exchange with a 1.1 Billion‑Dirham IPO
T2S Group Holding launched its first public offering on the Casablanca Stock Exchange, raising roughly 1.1 billion dirhams. The IPO, priced at 223 dirhams per share, attracted overwhelming demand – more than 44 times the amount offered – and signals a new growth phase for the Moroccan medical‑technology leader. The proceeds will fund innovation, expansion into French‑speaking Sub‑Saharan Africa, and a shift toward recurring‑revenue services, with revenue targets of 2.14 billion dirhams by 2026 and 4.17 billion dirhams by 2030.
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IPO Overview
T2S Group Holding made its debut on the Casablanca Stock Exchange today, marking the first IPO of the year in Morocco. The transaction, capped at roughly 1.1 billion dirhams, combined a capital increase of 350 million dirhams with a secondary sale of existing shares amounting to 750 million dirhams, all priced at 223 dirhams per share.
Market response exceeded expectations. According to figures disclosed at the listing ceremony, the offering attracted 111,149 applicants requesting a total of 48.13 billion dirhams – nearly 44 times the amount on offer. In total, 215.8 million shares were requested while only 4.93 million were made available, resulting in an average satisfaction rate of just 2.29%.
- Retail investors accounted for 98.98% of applicants.
- Institutional investors sought roughly half of the demanded shares.
- The Casablanca‑Settat region alone contributed close to half of the applicants and received 74.55% of the allocated shares.
About T2S Group
Founded in 1992 by Abderraouf Sordo under the name Technique Science Santé, T2S Group has become Morocco’s leading medical‑technology provider. Early on, it forged a long‑term partnership with GE Healthcare, a relationship that still underpins its business. Today the group employs more than 420 staff and covers the entire health‑care value chain – from heavy imaging and radiotherapy equipment to radiopharmaceutical production and hospital software solutions.
Strategic Outlook
The proceeds from this IPO will finance a new growth phase centred on innovation, expansion into French‑speaking Sub‑Saharan Africa, and the development of recurring‑revenue streams. T2S targets revenue of 2.14 billion dirhams by 2026 and aims to double its size by 2030, reaching 4.17 billion dirhams, driven primarily by radiology‑oncology and in‑vitro diagnostics.
This listing is part of a broader resurgence of Moroccan IPOs, following successful offerings by SGTM, Vicenne, and Cash Plus.