The Moroccan Capital Market Authority has approved AXA’s preliminary prospectus for a capital increase reserved exclusively for group employees. The transaction will involve the issuance of up to 58,951,965 shares. In Morocco, the offering covers employees of four AXA subsidiaries and four branches. The reservation period runs from Sept. 19 through Sept. 24, 2026, and the reference price will be set on Oct. 30, 2026.