Moroccan Healthcare Group Akdital Boosts Public Share Capital to $110 Million

Wednesday 26 June 2024 - 08:50

Akdital, a prominent name in Morocco's private healthcare sector, is set to significantly enhance its public share capital. The Moroccan Capital Market Authority (AMMC) has approved Akdital's ambitious plan to issue new shares, aiming to attract substantial public investment and bolster its growth trajectory.

The AMMC, under reference VI/EM/019/2024, has endorsed Akdital's prospectus for the issuance of 1,492,537 new shares. This move is projected to raise nearly MAD 1 billion dirhams ($110 million), including the issue premium. Notably, this capital increase will proceed without preemptive subscription rights, thereby allowing broader public participation in the investment opportunity.

According to an official statement from Akdital, the subscription window for these new shares will open on July 2, 2024, and close on July 9, 2024, at 3:30 p.m. local time. Shares will be available at a price of MAD 670 Moroccan ($73) each.

Interested investors are encouraged to access the detailed prospectus through multiple online platforms, including Akdital's official website (https://akdital.ma/), the Casablanca Stock Exchange's website (www.casablanca-bourse.com), and the AMMC's official website (www.ammc.ma). To ensure a comprehensive understanding, summaries of the prospectus will soon be available in both Arabic and English on Akdital's institutional website and the AMMC website.

Akdital's decision to increase public share capital is a strategic move designed to fund its extensive expansion plans. Currently, Akdital operates 22 healthcare facilities across major Moroccan cities, representing over 15% of the country's private healthcare infrastructure. The group's medical services encompass all specialties, ensuring comprehensive patient care with a total bed capacity of 2,392 and a team of 1,558 doctors.

Having gone public in 2011, Akdital has shown consistent growth in its financial performance. By 2023, the company's net income reached MAD 198 million ($19.9 million), reflecting its strong market position and operational excellence.

This capital increase marks a pivotal step in Akdital's journey, providing an opportunity for investors to contribute to and benefit from the group's continued success in revolutionizing Morocco's private healthcare landscape.