🎯 Understanding IPOs – Initial Public Offering

🔹 What is an Initial Public Offering (IPO)?

• AIPO(or "initial public offering") is when a companysells its shares to the public for the first time🎯 Understanding IPOs – Initial Public Offering
• She wantsraise money (funds)to grow, develop projects, or gain recognition.
• In exchange, people like you canbuy shares and become small shareholders🎯 Understanding IPOs – Initial Public Offering

📈 Why it’s useful?

• For the company:More money, more visibility, more credibility.
• For you (investor):you can buy shares from the start and take advantage of their growth potential.

⚙️ The main stages of an IPO:

1. The company is preparing.
2. She chooses amarket(main or alternative).
3. She publishes an important document: theprospectus(all the information about the company, the risks, the offer...)
4. She works with professionals (banks, brokerage firms).
5. It opens asubscription period: this is where you can buy.
6. After the subscription, the shares areallocated🎯 Understanding IPOs – Initial Public Offering
7. The shares then arrive on thesecondary market(you can sell them or buy them back).

📝 Before subscribing: what you need to know

• Read itprospectus🎯 Understanding IPOs – Initial Public Offering
• Prepare your money: it needs to be deposited.beforethe subscription.

📦 How shares are allocated?

• Pro rata: everyone receives a little according to what they asked for.
• By iterationEach person receives 1 share in turn until exhausted.
• Qualitative: sometimes, professionals receive more based on criteria (e.g.: privileged Moroccan funds).

📬 After the IPO?

• You become a shareholder 🧾.
• You have somerightsdividends 💰, vote 🗳️, information 📰.

You canresell your shares on the secondary market(stock market).