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
-
UNDP-Backed Scale32 Initiative Opens Applications for Startups in Cameroon
20:33
-
West, Central Africa to Meet in Cotonou for Digital Transformation Summit
20:30
-
Nigeria Sets Jan. 5 Deadline for Digital Lenders to Meet New FCCPC Rules
20:26
-
Ghana Allocates $3.03 Billion to Education in 2026 Budget
20:24
-
Cameroon Drafts Organic Farming Law, Eyeing a €136 Billion Global Market
20:07
-
Cameroon Unveils Final Design for Douala Airport Upgrade Ahead of 2026 Start
20:00
-
Pan-African Music Event SIMA Returns to Benin After Three-Year Break
19:34
-
Burkina Faso Digitizes National Electricity Utility’s Recruitment Process
12:40
-
Togo Prepares First National Governance Report
11:58
-
Oumarou Fadil and Others Cameroonian Business Leaders Head to Johannesburg for Qatar-Africa Forum
11:13
Social media users accuse the UAE of backing Sudan’s RSF militia. Activists and celebrities c...
DRC met Alibaba, Isoftstone to discuss adapting China’s e-commerce model Joint working group ...
West African officials met in Lomé to improve municipal finances for crisis response Talks focuse...
Launch led by Maroc Telecom, Orange, and Inwi Rollout targets 25% coverage by end-2025 under Digi...
The Bank expects a 41% rise in 2025 and a further 6% increase in 2026. Gold topped $4,00...
Ghana allocates $3.03B to Education Ministry in 2026 budget, up 18% Funds support free education programs, infrastructure, materials, and teacher...
Cameroon drafts law to regulate organic farming, targeting global market access Framework covers crops, livestock, aquaculture; bans GMOs and synthetic...
Cameroon unveils renovation plan for Douala Airport; work starts in H2 2026 XAF95 billion project includes apron expansion, terminal upgrade, and...
Built by Sinohydro with KFAED funding; aims to ease city traffic congestion Project part of Simandou 2040 strategy to boost infrastructure and economic...
The second edition of Salon International de la Musique d’Afrique (SIMA) launched in Cotonou on Thursday, November 13. This year's event in Benin marks a...
Benin approves Club Med resort in Avlékété to boost tourism sector 25-hectare site to feature 336 rooms, pools, spa, and sports...