T2S Group Holding, the leading medical technology group in Morocco and across more than twenty African countries, received regulatory authorisation on Monday 6 July from the Autorite marocaine du marche des capitaux (AMMC) to proceed with its initial public offering on the Casablanca Stock Exchange. A presentation of the transaction was held the same day at the Bourse de Casablanca, hosted by La Vie Eco.
The offering combines a capital increase and a block share sale for a total of approximately 1.09 billion dirhams. The issue price was set at 223 dirhams per share against a nominal value of 50 dirhams, with 3,363,228 existing shares to be sold and 1,569,506 new shares to be issued. The subscription window runs from 13 to 17 July 2026, with the first listing date fixed for 27 July. Abderraouf Sordo, the group’s chief executive and founder, described the IPO as “a coronation” of 35 years of effort, while insisting it represents the opening of a new chapter rather than a conclusion.
T2S distributes, installs and maintains high-technology equipment and solutions across the full patient care journey from initial diagnosis to therapy, working with more than 8,000 product references and employing over 400 people. The private sector represents 74.1 percent of consolidated revenue on average, while the group has maintained a presence in sub-Saharan Africa for 25 years across a structured network of markets.
The group’s financial track record supports the transaction. Consolidated revenue grew at a compound annual rate of 13.3 percent between 2023 and 2025, reaching more than 1.7 billion dirhams in 2025 from 1.5 billion dirhams in 2024. Operating profit before depreciation expanded at a 26 percent compound annual rate, while net profit grew 62.6 percent annually over the same period, accompanied by a 36.2 percent average annual reduction in net debt.
Looking ahead, Sordo expressed confidence in the group’s growth trajectory, pointing to the structural tailwinds within the Moroccan medtech market. Estimated at approximately 10 billion dirhams in 2025, having grown at 11.6 percent annually between 2019 and 2025, the sector is projected to sustain 12 percent annual growth to 2030 — driven by private sector structuring, anticipated public sector investment and the expected revision of medical tariff structures.