Jul 13 2010 |
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Dual listing of shares of "Ennakl Automobiles" starts in Tunis and Casablanca
TUNIS, July 13, 2010 (TAP) - The first stock operations of dual listing of shares of " Ennakl automobiles " car company Tuesday simultaneously started at Tunis and Casablanca (Morocco) Stock Exchanges.The stock price for this simultaneous transaction--the first of its kind in the Maghreb at two Maghrebi stock markets--was set at 10.700 Tunisian dinars and 64.22 Moroccan dirhams.
" Ennakl Automobiles" of Princess Holding Group has opened 40% of its capital and has introduced 30% of it at the Tunis Stock Exchange and 10% at the Casablanca Stock Exchange .
The 12 million-share sale transaction amounts to 128.4 million dinars, 9,000,000 shares of which were introduced in Tunis and 3 million in Casablanca.
At Casablanca Stock Exchange , the number of shares requested reached 297 thousand against an offer of 40,000 shares. During a videoconference Tuesday in Casablanca, Mr. Mohamed Sakher El Materi, President of Princess Group Holding, the parent company of " Ennakl Automobiles" expressed satisfaction over the successful dual listing of shares of the Company on Tunis and Casablanca Stock Exchanges, focusing on efforts by the various parties involved in this operation.
Mr. Mohamed Bichiou, Director General of the Tunis Stock Exchange described the operation as "historic" because it is the first time the Tunis Stock Exchange records the subscription of 49,000 new registered shareholders.
« Ennakl Automobiles » has also recorded 9 000 new registered shareholders in Casablanca.
© Agence Tunis Afrique Presse 2010
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