Middle East Economic Survey

VOL. XLVIII

No 40

3-October-2005

MOROCCO

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...