RABAT- Societe Generale Marocaine de Banques is looking to raise 800 million dirhams ($84.72 million) in a subordinated domestic bond issue, bourse regulator AMMC said on Tuesday.
Subscription for the 10-year bond will take place from June 19 to June 21, the regulator said in a statement.
The bond will help the bank strengthen its equity following the acquisition of 34.95 percent of Eqdom from SG Financial Services Holding, Societe Generale Marocaine de Banques said in a prospectus.
The money raised will also serve to develop the bank's lending activities, it said.
(Reporting by Ahmed Eljechtimi, editing by Louise Heavens) ((firstname.lastname@example.org;))