NO. 31


Financial and Banking News

Capital Markets

Morocco Sells 26% Of BMCE For $148Mn

Morocco has sold a further 26% of its share of Banque Marocaine du CommerceExterieure (BMCE) for MD1.24bn ($148mn), prompting the price of BMCE stock torise from MD360 ($43) to MD392 ($47) on the Casablanca stock exchange in lessthan a week.

Morocco's Ministry of Privatization said on 19 April that 2.6mngovernment-owned shares were sold for MD478 ($57) per share. In January, Moroccosold a...