Morocco’s CMGP Group wins approval to launch IPO in Casablanca

RABAT, Nov 22 (Reuters) – Morocco’s CMGP Group has won approval to launch an initial public offering on the Casablanca stock exchange, bourse regulator AMMC said on Friday.

The irrigation systems firm aims to raise 1.1 billion dirhams ($110 million) through this offering, which includes a capital increase and a shares sale, AMMC said in a statement.

The subscription period will run from Dec. 2 to Dec. 6, it said.

(Reporting by Ahmed Eljechtimi; editing by Jason Neely)

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