Middle East Economic Survey
Afriquia Gaz IPO Raises $44Mn
Afriquia Gaz IPO closed successfully on 9 September, raising MD400mn ($43.9mn). The offering, which opened on 7 September, sold 4000 shares at MD100,000 ($10,981) per share and was managed by Attijariwafa bank. Shares were listed on the Casablanca stock exchange as of 13 September. The IPOs proceedings will be used to finance Afriquias acquisition of Tissir Primagaz. Akwa Group subsidiary Afriquia Gaz...