Société Générale des Travaux du Maroc (SGTM) has obtained approval from the Moroccan Capital Market Authority (AMMC) on November 17, 2025, to prepare for the listing of approximately 20% of its capital on the Casablanca Stock Exchange.
Hamza Kbaj, the managing director of SGTM, stated during a press conference in Casablanca that this move represents a “pivotal moment” for the company, which was established in 1972 and has accumulated over half a century of experience in strategic infrastructure projects across the kingdom, including ports, dams, airports, industrial facilities, universities, and hospitals.
Kbaj explained that the public offering is not just a financial operation but is intended to create “greater openness to the public and enhance the company’s presence nationally,” with a vision for it to be “a popular initiative for a Moroccan company building Morocco with Moroccans.”
SGTM aims through this listing to strengthen its roots in the national market and enhance its investment capabilities to meet the expected growth in demand during 2024 and 2025.
According to the offering, around 12 million shares will be offered for up to 5.04 billion dirhams. The subscription will be open from December 1 to December 8, 2025, with prices ranging between 380 and 420 dirhams per share based on the category.
SGTM’s shares are slated to be listed on the main market of the Casablanca Stock Exchange, with the first trading day set for December 15, 2025. The company has chosen Attijari Finances Corp as the financial coordinator for the operation.
Strategically, SGTM hopes this listing will boost its financing capabilities and support its expansion both within Morocco and abroad, enabling it to contribute to key infrastructure and strategic projects in the country.
