Moroccan pharmaceutical group Laprophan announced on Thursday, October 29, its plans to go public on the Casablanca Stock Exchange, aiming to raise up to 2.22 billion dirhams ($246 million). The company's initial public offering (IPO) will run from November 9 to November 17, 2026, and will be used to finance the acquisition of laboratory Polymédic and support the group's expansion.
Laprophan, founded in 1949 by Dr. Abderrahim Bennis, is taking a significant step in its development by opening its capital to the stock market. The IPO, which combines a capital increase and a sale of existing shares, will offer a maximum of 6,517,700 shares, with 4,105,500 new shares issued as part of a capital increase of nearly 1.4 billion dirhams. Additionally, 2,412,200 existing shares will be sold, representing a maximum amount of 822.56 million dirhams.
The subscription price for the IPO has been set at 341 dirhams per share. Following the operation, Dr. Farid Bennis, the group's president and general manager, is expected to retain 57.47% of the capital. The prospectus for the IPO was approved by the Moroccan Capital Market Authority (AMMC) on October 28.
A key objective of the IPO is to finance the acquisition of Corporate Investment Holding, the parent company of pharmaceutical laboratory Polymédic. Laprophan signed a contract in October 2026 to acquire the entire capital and voting rights of this company. The completion of the operation is subject to the necessary regulatory approvals, including the approval of the Competition Council.
Founded in 1964, Polymédic has an industrial site of approximately 9,600 square meters in Casablanca and employs around 280 staff. The company's portfolio includes 138 market authorization and over 200 commercialized products, covering 12 therapeutic areas. In 2025, Polymédic achieved revenue of 405 million dirhams and expects around 455 million dirhams in 2026.
For Laprophan, this acquisition aims to strengthen its presence in the Moroccan market, expand its portfolio of medications, and develop industrial and commercial complementarities between the two companies. The group has been pursuing an accelerated external growth strategy since 2020, including the acquisition of Amanys Pharma and a majority stake in Botanic Pharma.
The acquisition of Polymédic and the IPO will enable Laprophan to further its development and growth strategy. With the support of its shareholders, including Mediterrania Capital Partners, Proparco, DEG, and FMO, Laprophan is well-positioned to achieve its objectives and expand its presence in the pharmaceutical market.
Key points
- Laprophan aims to raise up to 2.22 billion dirhams ($246 million) through its IPO.
- The IPO will be used to finance the acquisition of laboratory Polymédic and support Laprophan's expansion.
- Following the IPO, Dr. Farid Bennis is expected to retain 57.47% of Laprophan's capital.
