Morocco’s Aradei Capital to launch IPO in Casablanca

The subscription period will run from December 1 to 4

  
An electronic board shows the Moroccan Composite Stock in a photo illustration at Casablanca stock exchange office in Casablanca, Morocco, June 29, 2017.

An electronic board shows the Moroccan Composite Stock in a photo illustration at Casablanca stock exchange office in Casablanca, Morocco, June 29, 2017.

REUTERS/Youssef Boudlal/Illustration

RABAT  - Moroccan real estate company Aradei Capital on Monday won approval to launch an initial public offering (IPO) to raise 600 million dirhams ($65 million) on the Casablanca stock exchange, bourse regulator AMMC said.

The company will issue 1.25 million new shares, while its current stakeholders will sell 250,000 shares, priced at 400 Moroccan dirham ($43.95) per share, the regulator said.

The subscription period will run from Dec. 1 to Dec. 4, it added.

The latest IPO on the Casablanca stock exchange took place in December 2018.

($1 = 9.1008 Moroccan dirham)

(Reporting by Louise Heavens) ((louise.heavens@thomsonreuters.com;))

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