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El-Watania investment company to sell shares
Morocco, Business, 5/26/1998
El-Watania company for investment, which is the second-largest economic group in Morocco, is presenting today for five days about 5.5% of its capital for sale to the public through the Casablanca stock market, commercial banks and collective employment companies.
The company's statement said that they aim at presenting 554,500 shares at a cost of $90 per share to individuals and local and foreign companies, on the condition that the subscription should not be less than 30 shares and does not exceed 1000 shares for individuals.
This is the first process of public presentation in the stock market, made by El-Watania investment company to the public since being privatized in 1995.
The company will announce the results of opening the subscription process in the capital on June 3.
El-Watania company holds 25 companies, among which is the Lafarg group for producing construction materials.
Previous Stories:
Moroccan privatization program takes in $2 billion
(5/11/1998)
Morocco establishes movie studios
(4/13/1998)
Morocco to increase number of telephone lines
(2/27/1998)
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