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FINANCIAL NEWS
Morocco’s Addoha plans $334m capital increase
01 Jul 2010
(MENAFN) Addoha, a Moroccan developer, is planning to carry out a $334 million capital increase in July and existing shareholders will get preferential subscription rights, Bloomberg reported.
Founder Anas Sefrioui holds 61.74 percent of Douja Promotion Groupe Addoha and will subscribe to enough shares in the capital increase to keep a majority stake in the company.
The group also aims to issue bonds worth $545 via financial institutions, according to a media report.
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