CMGP: A Landmark IPO on Casablanca Stock Exchange as Company Achieves Historic Milestone

Development Partners International (DPI) has announced the successful initial public offering (IPO) of CMGP Group, a leading pan-African integrated agri-services firm, on the Casablanca Stock Exchange (CSE). CDGP managed to raise approximately $110 million through a capital increase and share sale, achieving a post-money valuation in excess of $340 million. The IPO was met with tremendous investor interest, being oversubscribed 37 times and attracting 33,771 participants, rendering it the third-largest in CSE history. This financial achievement will provide liquidity to existing investors and fuel further growth. DPI has been the lead investor in CMGP since 2018, and has contributed to its transformation from a specialised irrigation solutions provider into a top-notch agri-services company. CMGP’s management, including its founders, will continue to guide the company, which promises to maintain its role as a leader and innovator in the agricultural services sector, addressing key issues like water scarcity and food security.