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
-
Cameroonian LPG Tanker Catches Fire off Yemen, Killing Two Crew Members
20:46
-
Spiro Raises $100 Million to Expand Electric Mobility in Africa, Eyes Cameroon Market
20:41
-
Coalition of African Telecom Operators Pushes for $30 4G Smartphone
20:03
-
Card Payments Lag Far Behind Mobile Money Boom in Cameroon
19:03
-
Cameroon to Deliver Six Delayed Solar Mini-Plants by 2026
18:59
-
Galp Scales Back Some African Assets While Betting on Exploration
18:20
-
Orange MEA CEO Calls for Level Playing Field in Regulation at MWC 2025 in Kigali
18:05
-
WAEMU States Plan to Raise $4.4 Billion in Q4 2025
18:01
-
Togo’s Maritime Region launches hospital development plan
13:28
-
Benin’s Mechac Goussanou digitizes business management for African retailers
12:30
BYD to install 200-300 EV chargers in South Africa by 2026 Fast-charging stations powered by grid...
Drones to aid soil health, pest control, and input efficiency High costs, skills gap challenge ac...
TotalEnergies, Perenco, and Assala Energy account for over 80% of Gabon’s oil production, estimate...
Nokia extended its agreement with Vodafone to supply next-generation radio access network (RAN) eq...
Diaspora sent $990M to CEMAC via mobile money in 2023 Europe led transfers; Cameroon dominat...
Six major African operators and GSMA are setting a unified standard for low-cost 4G smartphones priced between $30 and $40. The initiative...
Galp is in advanced talks to sell part of its 80% stake in the Mopane offshore oil project in Namibia and expects a deal by year-end. The Portuguese...
Orange CEO urges fairer digital rules amid Africa’s tech shift Operators call for updated policies to match data-driven economy GSMA, partners launch...
Kefi secures $240M loan for Ethiopia’s Tulu Kapi gold project Additional $100M to be raised via equity, local investors Gold production...
Asmara, the capital of Eritrea, is often described as Africa’s modern city for its remarkable architectural heritage and forward-thinking urban design....
The Great Zimbabwe National Monument stands as one of southern Africa’s most iconic archaeological sites, a silent witness to a thriving African...