VOL. XLI

No. 28

13-July-1998

MOROCCO

Nomura Sells Part Of Its Stake In BMCE

Sources at Japanese investment bank Nomura in London have confirmed that the bank hassold a 7.8% stake in Banque Marocaine du Commerce Exterieure (BMCE) for a sum of $80mn,although neither the number of shares nor the names of the purchasers were disclosed. Theequity placement - in the form of local shares and Global Depositary Receipts (GDRs)listed on the London Stock Exchange - was distributed "to a limited number of...