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
-
Cameroon Backs AfCFTA Corridor Project as IOM Secures AfDB Funding
12:15
-
NALA Secures Triple Licensing in Uganda, Accelerating East African Fintech Expansion
11:55
-
U.S. Airstrikes in Nigeria: Counter-Terrorism Mission Meets Contested Religious Narrative
11:51
-
Morocco secures extra $3.3mln from Japan for Safi fishing port project
08:57
-
Morocco: China’s Sunrise launches $154mln textile project in Fez
08:54
-
Nigeria fintech Clea eases international supplier payments for businesses
17:15
-
Morocco accelerates airport digitalization at Casablanca hub for AFCON 2025
16:12
-
Lomé Commercial Fortnight runs through January 4, 2026
15:38
-
Cameroon positions 650,000 hectares for deforestation-free cocoa under EU rules
13:48
-
Mohamed Simporé named BICEC CEO, Outman Roqdi reassigned within BCP
13:27
Kenya shipped its first mango consignment to the UK on December 20 The move is part of a pilo...
Nomba brings Apple Pay to 300k Nigerian shops. Following Paystack, this "second row" move enables ...
Kenya’s CMA licensed Safaricom and Airtel Money as Intermediary Service Platform Providers (ISPPs)...
In Africa, the transformation of food systems has become an urgent issue in the face of rapid popula...
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
NALA has secured PSP and PSO licenses from the Bank of Uganda, adding to its 2024 Money Remittance license. Backed by $40M in Series A...
Trump targets militants in Sokoto, citing Christian "genocide," though locals note the region is mostly Muslim. Abuja confirms the joint strikes...
Japan adds $3.3 million to the Souiria K’dima fishing port project Total Japanese funding for the project reaches $17.2...
Sunrise starts construction of a textile plant in Fez, operational in Q3 2026 The project covers the full textile and apparel value...
Afrochella, now known as AfroFuture, is a cultural event held annually in Ghana, mainly in Accra, around the Christmas and end-of-year period. Launched in...
Algiers is a coastal capital of around four million inhabitants, located in north-central Algeria. Its urban structure, heritage, and social practices...