Holmarcom has announced the sale of 11.3% of the capital and voting rights of Crédit du Maroc (CDM) as part of its strategy to develop a diversified and integrated financial hub with a pan-African focus.
The sale will offer 1,229,577 shares at a price of 850 dirhams each, excluding a specific discount for CDM employees, totaling approximately 1.03 billion dirhams. Subscription will be open from October 28 to November 1, 2024. Following this operation, Holmarcom Finance Company (HFC) will own 67.4% of CDM.
The initiative aims to increase the bank’s market presence, engage employees in its growth, and reward both historical and new shareholders with the bank’s developmental momentum following a change in its main shareholder. ]CEO Mohamed Hassan Bensalah emphasized the importance of involving employees in the bank’s success by offering them exclusive share ownership conditions.
Notably, in the first half of the year, CDM reported a 7.9% increase in customer loans and a 36.8% rise in net income, showcasing its strong performance.
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