Equity / Investment · MENA · Announced 28 Oct 2026
Casablanca Stock Exchange IPO → Laprophan
Morocco's AMMC has approved Laprophan's Casablanca IPO of up to MAD 2.22 billion at MAD 341 a share, floating 37.64%, to fund acquisitions including Polymedic and industrial expansion. Subscription runs 9–17 November.
Parties: Casablanca Stock Exchange IPO (public investors) (Morocco) → Laprophan (Morocco)
- Deal type
- Equity / Investment
- Value
- $225m
- Territory
- Morocco (Casablanca Stock Exchange)
- Therapeutic area
- Multi-therapy
- Asset
- Laprophan IPO (primary and secondary shares)
- Announced
- 28 Oct 2026
Our analysis
Why this matters
Morocco's capital-markets regulator, the AMMC, approved Groupe Laprophan's initial public offering on the Casablanca Stock Exchange on 28 October 2026. The offering is worth up to MAD 2,222,535,700 at MAD 341 per share. It combines a capital increase of about MAD 1.4 billion with the sale of 2,412,200 existing shares, worth MAD 822.6 million, by shareholders MC IV Pharma and MC IV Morocco. Shares offered will represent 37.64% of capital and voting rights after the offering. Subscription runs from 9 to 17 November 2026.
At roughly US$225 million, this is a sizeable listing for North African pharma. It comes a week after Laprophan agreed to acquire Corporate Investment Holding, the parent of Polymedic, which is still subject to Competition Council approval. The IPO gives Laprophan the money for that acquisition, with its private-equity shareholders taking partial liquidity at the same time. On our calculation, 37.64% at MAD 341 implies a post-money market value of roughly MAD 5.9 billion; the article does not give a valuation.
The full analysis is free to read with a work email on this page.
Source: La Vie éco