RABAT - Moroccan construction company TGCC has won approval for an initial public offering (IPO) on the Casablanca stock exchange to raise 600 million dirhams ($65 million), bourse regulator AMMC said.

The company will issue 2,202,589 new shares while its current stakeholders will sell the same number of shares, priced at 136 Moroccan dirham ($14.7) per share, the regulator said.

The subscription period will run from Nov. 29 to Dec. 3.

 

(Reporting by Ahmed Eljechtimi Editing by David Goodman) ((ahmed.eljechtimi@thomsonreuters.com;))