Morocco to Increase Royal Air Maroc Capital With Subscription Program ...Morocco

Rabat – Morocco’s government and the Hassan II Fund are set to increase Royal Air Maroc capital by MAD 3.4 billion ($374.48 million).The Hassan II Fund and the state are set to increase Royal Air Maroc’s capital through a “subscription” that started on November 20 and will continue until December 20.The program offers 34 million shares at a value of MAD 100 ($11) per share, Moroccan television channel 2Mreported.The operation is set to raise the company’s capital to MAD 7.6 billion ($837 million).Hassan II Fund owns 98% of the company’s capital and will have a “preference to subscribe on a non-discountable basis at a price of 15 new shares against 16 old shares,” the news outlet added.The te

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Last updated : 29 Nov 2020 clock 06:45 PM

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Morocco to Increase Royal Air Maroc Capital With Subscription Program ...Morocco

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