Shares of Maroc Telecom will be sold to MAD 125.3 to the public against a previously announced amount of MAD 127.
According to the Moroccan Capital Market Authority (AMMC), the offer price is MAD 117.7 per share for Order Type 1 and MAD 125.3 per share for Orders types 2, 3 and 4.
The subscription period runs from June 26 to July 5 with a possible early closing on July 2nd. The sale of certain shares held by the State will enable the provisions of the Finance Act for fiscal year 2019 to be applied in terms of privatization revenues. It will also develop the shareholding and increase the participation of staff in the capital of the group and better optimize the remaining participation of the state (22%).