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) ((firstname.lastname@example.org;))