Additional Information
Shares Offered: 113,900,183 ordinary shares initially. Over allotment option was excercised. Total number of shares issued 130,985,210.
The estimated offering range for the IPO is MAD 54.70 to MAD 68.25 per ordinary share. For indicative purposes only, the offering price range in euro (using the dirham / euro exchange rate published by Bank Al Maghrib on November 19, 2004) is Euro 4.90 to 6.12 per ordinary share. According to the Issue Managers, the offering price may, however, be outside this range. The Moroccan public offering price will be the same as that of the international institutional offering price. The determination of the offering price is expected to occur on or about December 8, 2004. The issue was priced at the top of the range after the close.
Share Allocation: The investment bank syndicate holds a 15% over-allotment option on an additional 17,085,027 shares which it will excercise in the case of oversubscription. The government of Kuwait underwrote in the private subscription and is tranfering USD 110 million of its funds to invest in Maroc Telecom.
From an initial 20% stake alloted for individual investors, 23% will be served, while 30% will be listed on Euronext-Paris. Individual investors who placed orders of DH. 1,000 or less and Maroc Telecom personnel will be entirely satisfied, while orders of more than Dh 50,000 will have a mere 4.63% satisfaction ratio. For thse between DH. 10,000 and 50,000 a 25% ratio will be served.
1.50 ( 0.80%)
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