Moroccan Aradei Capital gets approval for an IPO
Tuesday, 24 November 2020 15:58
Moroccan real estate company Aradei Capital has obtained regulator AMMC’s approval for an initial public offering through a capital increase.
The company will issue 1.2 million shares at MAD400 each. It will also proceed to the transfer of 250,000 shares at MAD400 per share. Aradei Capital, owned 49.6% by Label'Vie group, hopes to mobilize MAD 600 million ($65.8 million) at the end of the operation.
The IPO was decided on November 9, at the Aradei Capital Board of Directors meeting. The objective is to raise funds to finance the company's development plan and enable it to acquire and develop real estate assets. The subscription period for these shares is from 1 to 4 December 2020.
Aradei Capital plans to reorganize its shareholding by the end of this operation.
Chamberline Moko
Live News
-
EU Pledges $660 Million for Ethiopia’s Energy and Digital Transformation
09:08
-
Central African Republic Plans 2026 Launch of Telecom Universal Service Fund
09:08
-
Nigeria’s Terra Industries to Build Africa’s Largest Drone Factory in Ghana
08:56
-
Lesotho and South Africa to Open $146 Million Senqu Bridge
08:52
-
Five MENA deep-tech startups head to Silicon Valley for AI program
08:49
-
Google Cloud Next 2026 to Convene Global Cloud Industry April 22-24
08:47
-
Women in Tech Global Summit to Convene Global Leaders in Cape Town on April 28-30
08:44
-
South Africa’s AI Diagnostics Uses AI Stethoscope to Screen for Tuberculosis
03:46
-
Tiger Brands’ Exit from Chococam Enters Final Phase, Awaiting Three Regulatory Approvals
21:05
-
Women’s cooperatives in northern Togo receive UNDP-backed farm equipment
20:36
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
Mahindra & Mahindra is considering a CKD assembly plant near Durban to strengthen its presence i...
Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...
AFC disbursed €43 million for Côte d’Ivoire solar project Financing supports 66 MW pla...
Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...
Authorities plan to operationalize the universal service fund in 2026 to expand telecom access nationwide. Telecom operators will contribute 2%...
Terra Industries plans a major drone manufacturing plant in Accra with capacity of 50,000 units annually by 2028. The facility targets growing...
Lesotho and South Africa will launch the Senqu Bridge, a $146.7 million cross-border infrastructure project. The bridge forms part of Phase...
85.8% of Malawi’s 8,939 schools lack internet access despite national digital ambitions. Nearly 47% of schools have no electricity, making...
The Virunga Gorilla Marathon is a relatively recent initiative held in the Virunga region, a volcanic mountain range straddling the borders of the...
Lomé is hosting the 9th edition of the International Film Festival of Togo (FIFTO) featuring 33 films. The event promotes African storytelling in...