T2S Group Holding secures AMMC approval for Casablanca Stock Exchange IPO
T2S Group Holding has received regulatory approval from Morocco’s Autorité Marocaine du Marché des Capitaux (AMMC) to proceed with its initial public offering (IPO) on the Casablanca Stock Exchange, paving the way for one of the country's significant healthcare technology listings of the year.
The AMMC granted the visa for the transaction on July 6, 2026, under reference VI/EM/021/2026. The offering is valued at approximately MAD 1.1 billion and is designed to support the company's long-term growth strategy and regional expansion.
The IPO combines a capital increase of nearly MAD 350 million, reserved for public investors, with the sale of existing shares worth approximately MAD 750 million, bringing the total size of the transaction to MAD 1.1 billion.
MedTech specialist targets expansion
Founded in 1992 by Abderraouf Sordo, T2S Group Holding has grown into one of Morocco's leading integrated medical technology (MedTech) companies. The group supplies advanced medical equipment and healthcare solutions to public and private hospitals, diagnostic laboratories and radiology centers across Morocco and French-speaking Africa.
Its business covers the distribution, installation and maintenance of high-end medical technologies, including diagnostic imaging systems, oncology equipment, surgical robotics and laboratory solutions.
Beyond equipment distribution, the company has developed industrial and research capabilities through its subsidiary Cyclopharma, which manufactures radiopharmaceutical tracers used in nuclear medicine. A second cyclotron production facility is planned in Fez by 2028, with the aim of doubling production capacity and improving supply to northern and eastern Morocco.
Digital health and artificial intelligence
The group is also expanding its digital healthcare activities through Binarios, its information technology division, which develops hospital management systems and medical imaging platforms.
Among its ongoing projects are artificial intelligence-powered applications designed to assist radiologists in interpreting diagnostic images, reflecting the company's strategy to integrate digital innovation into healthcare delivery.
T2S currently partners with more than 40 global original equipment manufacturers (OEMs), including GE HealthCare, bioMérieux, Accuray and Boston Scientific. Its portfolio includes more than 8,000 MedTech products across 15 medical technology categories.
The company employs 418 people, operates a 3,000-square-meter centralized logistics center and supports healthcare institutions in more than 20 African countries.
Subscription timetable
The IPO subscription period is scheduled to run from July 13 to July 17, 2026, with the share price set at MAD 223.
The shares will be available through participating banks and brokerage firms involved in the placement syndicate.
CFG Finance is acting as the financial adviser and global coordinator for the transaction.
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