IPO Monitor

Status

Exchange

Sector

Country of Incorporation

Shares Offered

Offer Size

Percentage Offered

Issue Price

Total Equity Value

Open to all subscribers

-Type I: Employees of Atlanta and Sanad: 150,858 shares.
-Type II: Intermediaries (brokers and immediate agents) representing exclusively Atlanta and Sanad in its ongoing operation: 90,515 shares.
The maximum subscription for the immediate agents and brokers is respectively fixed to 5 times and 1 time the revenue realized from the from the brokerage operation between the issuer and the subscribers.
-Type III: Foreign and Moroccan Applicants in addition to the legal entities not included in Type V, giving orders to less or equal to MAD 1,000,000: 201,144 shares.
-Type IV: Foreign and Moroccan Applicants in addition to the legal entities not included in Type V, giving orders to more than MAD 1,000,000 and less or equal to MAD 20,000,000: 201,144 shares.
-Type V: Foreign and Moroccan institutions (Insurance and reinsurance companies, mutual funds, hedge funds, pension and retirement institutions, banks, and the CDG) giving orders to less or equal to 100,752 shares: 362,059 shares.

Share Price: MAD 1200; MAD 100 Par Value + MAD 1100 Premium.

The lead manager, in agreement with Casablanca stock exchange, has decided to close the subscription period on 03-Oct-07 instead of 04-Oct-07 the official closing date.

In case of oversubscription, shares offered will be allocated as follow:
-Type I: 1 share per subscriber by iteration with priority to the highest demands until the selling up of shares equivalent to 24 months of salary. The remainder will be distributed on a pro-rata basis
-Type II: pro-rata basis
-Type III: 1 share per subscriber by iteration with priority to the highest demands until the selling up of all shares offered
-Type IV: pro-rata basis
-Type V: pro-rata basis

Oversubscription results:
Type I was oversubscribed 1 time
Type II was oversubscribed 4.78 times
Type III was oversubscribed 38.62 times
Type IV was oversubscribed 279.37 times
Type V was oversubscribed 109.31 times

Open Date

Closing Date

Allocation Date

Distribution Date

Listing Date

Lead Manager

CDG capital

Financial Advisor

CDG capital

Lead receiving bank: Safabourse

Receiving banks: BMCI, BMCI Bourse, Attijariwafa Bank, Attijari Intermédiation, BMCE Bank, BMCE Capital Bourse, Alma Finance Group, Finergy, Crédit Immobilier et Hôtelier, Banque Centrale Populaire, ICF Al Wassit, Crédit Agricole du Maroc.