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Article: Casablanca cashes in: a further wave of IPOs is in the pipeline for 2007.(MARKET IN FOCUS: MOROCCO)(Casablanca Stock Exchange )
- Article from:
- MEED Middle East Economic Digest
- Article date:
- October 6, 2006
- Author:
CopyrightCOPYRIGHT 2006 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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At least five companies are expected to go public and list on the Casablanca Stock Exchange in 2007, promising an injection of liquidity to the already buoyant bourse. Likely candidates include telecoms company Meditel, Royal Air Maroc, the kingdom's only tobacco company Regie des Tabacs and chemical company Societe Nationale d'Electrolyse et de Petrochimie (SNEP), the sale of an estimated $20 million-25 million stake in which is likely to be pushed back from this year.
The imminent sale of a 30 per cent stake in paint manufacturer and vendor Colorado Peintures, set to take place in mid-October, will also increase market liquidity. With a sale price of MD 154 ...