Jet Energy seeks up to MAD 375 million in Morocco IPO

Jet Energy, a specialist in solar energy solutions and energy transition, has received approval from Morocco’s capital markets regulator (AMMC) to list its shares on the Casablanca Stock Exchange. The company, which serves as the solar and electrical infrastructure arm of Jet Contractors, plans to issue 2,625,000 new shares, representing 20% of its post-offering capital.

The initial public offering (IPO) is expected to raise between MAD 328.1 million and MAD 375.4 million (approximately $33 million to $38 million). Subscription for the shares is scheduled to take place from November 2 to November 5, 2026, with share prices expected to range between MAD 125 and MAD 143. Trading is anticipated to commence on November 16 under the ticker NRJ.

This capital increase is intended to bolster the company’s internal resources to support its expansion within Morocco’s renewable energy market. Since its founding in 2012, Jet Energy has developed cumulative photovoltaic capacity exceeding 330 MWp and energy storage capacities of 125 MWh. Following the offering, Jet Contractors will remain the controlling shareholder, with its stake diluting from 78.91% to 63.13%.