Marrakech – Cash Plus prepares to make history as Morocco’s first non-bank financial institution to list on the Casablanca Stock Exchange, with an ambitious MAD 750 million ($75 million) initial public offering set to launch later this month.

The fintech company, which serves 2 million account holders across Morocco, will offer shares at MAD 200 ($20) each in what marks a pivotal moment for the country’s evolving capital markets.

In an exclusive interview with Morocco World News (MWN), Cash Plus CEO Nabil Amar explained the strategic thinking behind the company’s market entry. “We set the price of MAD 200 ($20) after an independent valuation of our current fundamentals,” Amar stated. “It is a premoney valuation, which means it does not include the future upside of the projects we will launch after the capital increase.”

The pricing strategy reflects careful consideration of investor expectations while maintaining room for future growth. “The price is fair for new investors and leaves room for value creation,” Amar stressed. “It reflects the solid performance of a company that already serves 2 million account holders who use Cash Plus to receive salaries, social aid, and family allowances.”

The IPO structure combines MAD 400 million ($40 million) in capital increase with MAD 350 million ($35 million) in share sales by existing shareholders. The offering will float 3.8 million shares, representing a 15.5% stake in the company.

Post-IPO ownership will see the Tazi and Amar families each holding 35% of the capital, while Mediterrania Capital Partners retains 15.5% and the public float reaches 14%.

Amar outlined three key strategic objectives for the raised capital. “Becoming a public company is a major milestone for us,” he told MWN. “The IPO will allow us to grow faster in three areas: digital expansion, network strengthening, and better accessibility.”

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