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220.95
   
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690.00
   
+2.83
1290.00
   
+3.53
370.00
   
-1.60
239.00
   
+1.70
149.75
   
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3220.00
   
-0.31
11.50
   
-2.54
2361.00
   
0.00
1670.00
   
-1.30
249.25
   
-0.68
111.00
   
+1.83
398.50
   
+0.13
13.10
   
-3.18
1630.00
   
0.00
26.26
   
+0.42
48.00
   
-2.02
2060.00
   
+0.78
550.00
   
0.00
27.75
   
-0.18
1560.00
   
-2.50
708.00
   
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27.39
   
+1.44
320.00
   
-3.03
35.29
   
-1.97
905.00
   
+3.90
406.00
   
0.00
92.10
   
+0.05
131.95
   
+1.50
820.00
   
+1.99
233.00
   
0.00
259.85
   
+1.31
1165.00
   
-1.85
6600.00
   
0.00
3960.00
   
-3.41
3851.00
   
-3.48
1052.00
   
+0.19
873.00
   
0.00
1430.00
   
0.00
171.55
   
+3.97
2431.00
   
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679.00
   
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26.25
   
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1160.00
   
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433.90
   
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480.30
   
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4018.00
   
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127.80
   
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2064.00
   
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109.95
   
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80.00
   
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192.75
   
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161.00
   
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4699.00
   
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483.00
   
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107.10
   
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47.00
   
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149.90
   
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129.00
   
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79.50
   
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520.00
   
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46.99
   
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34.19
   
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280.00
   
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You are here :   Home > INITIAL PUBLIC OFFERINGS > IPO terms and conditions

Last modified date : 16/03/2020
 INITIAL PUBLIC OFFERINGS

IPO terms and conditions


Capital securities :

Market

Main

Secondary

Division

A & B

E

A

C

Minimum % of securities to be issued to the public

25% of K if K<5 bn MAD

 

 


 

Minimum amount to be issued to the public

20% of K if 5<=K<10 bn MAD

 

MAD 5 Bn

 

Audited Fiscal Years

15% of K if 10<=K<40 bn MAD

1

1

1

Consolidated accounts (when company has subsidiaries)

10% of K if K>=40 mdrs MAD

Moroccan standards in force, or failing that, international standards (IFRS/IAS)

Moroccan standards in force, or failing that, international standards (IFRS/IAS)

Moroccan standards in force, or failing that, international standards (IFRS/IAS) 

Consolidated half-year corporate account

MAD 1. 25 Bn if 5<=K<10 Bn MAD

 

if planned listing date falls over 9 months of fiscal year-end.

 

Support agreement with broker/ investment advisor

 

 

Minimum 2 years

 

Liquidity agreement

 

 

Minimum 2 years

 

Holding period by majority shareholding

 

 

2 years

 

 

* Not applicable to public institutions, companies and corporations referred to in Article 1 of Law 69-00 on State financial control over public companies and other bodies

 

 

Debt Securities:

 

Market

Main

Secondary

Division

D

E

B

C

Minimum total amount of issue

MAD 100 Bn

 

MAD 20 Bn

 

Minimum amount per tranche

MAD 20 Bn

 

MAD 10 Bn

 

Audited Fiscal Years

2

2

2

2

Consolidated accounts (when company has subsidiaries)

Moroccan standards in force, or failing that, international standards (IFRS/IAS)

Moroccan standards in force, or failing that, international standards (IFRS/IAS)

Moroccan standards in force, or failing that, international standards (IFRS/IAS)

Moroccan standards in force, or failing that, international standards (IFRS/IAS)

Consolidated half-year corporate account

if planned listing date falls over 9 months of fiscal year-end.

-

if planned listing date falls over 9 months of fiscal year-end.

 

Minimum maturity of securities

2 years

2 years

2 years

2 years

 

 

   


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of 05/03/2021
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9  MAD
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10,73 MAD
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