VOL. XLV

No 35

2-September-2002

MOROCCO

ONA Taps Moroccan FinancialMarkets

MoroccanGroup ONA has tapped the local financial market by issuing shares worth a totalof $70mn which have been taken up mostly by commercial banks, insurancecompanies and mutual funds. Although the offer was oversubscribed by $50mn, ONAsaid that it decided to limit the issue to 7,000 non-tradeableshares priced at MD100,000 each with an annual rate ofinterest of 6.2% over five years. This is the second time this year ONA...