IB Maroc plans to list its shares on the Casablanca stock exchange on July 10, following an issue of 83,500 shares (40 percent of the enlarged capital) at Dh594 each, the North Africa Journal reported.
The issue will be open June 25-29, and the shares on offer will be divided into two equal tranches - one for institutional investors and the other for non-institutionals, said the paper.
Half of the stock on offer is composed of newly created shares, and the proceeds of the float will help finance the company's planned Dh30 million data back-up center at Mohammedia.
IB Maroc doubled its turnover from Dh60 million to Dh127 million last year, and reported a net profit of Dh7.4 million for the year to March 2001 -- Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
