Two Moroccan companies sale shares

Morocco's companies Auto-Nejma (car- distributor) and Afriquia Gas (petroleum products distributor) have decided to open their capital to the public paving the way for their entry to the Casablanca bourse.

Auto-Nejma has launched lately its IPO (initial public offering) for the selling of 20 % its capital.

Auto-Nejma, which represents DaimlerChrysler in Morocco and Daewoo automobiles, offers the 258,000 shares for 178 dh (about $ 18 ) for each bond.

Afriquia Gas also launched its IPO for the selling of 20 % of its capital, or 412,000 shares for a unit price of 185 dh ($ 19).