Morocco’s royal family’s holding The Societe Nationale d’Investissement (SNI) is set to sell the remaining 23.6 % of Lesieur in a public sale, according to the stock exchange regulator and relayed by Reuters.
The SNI has been shifting its interest and focus towards mining, telecoms and energy, as it has previously sold stakes in Cosumar (only sugar supplier of the country), Centrale Laitiere and Bimo (Biggest biscuit maker in Morocco).
The Ethical Council of Securities (CDVM) said in a statement that 6.29 million shares will be sold at 93 dirhams each and at 83 dirhams each for SNI and Lesieur personnel and the holding is expected to raise 580 million dirhams from this sale.
The offer will start on May 26th and end on May 30th
The Moroccan Times.
