Morocco raises USD197mn in Marsa Maroc

(MENAFN) Morocco raises USD197mn by selling 40 percent share in state-owned port operator Marsa Maroc in the nation's first initial public offering this year.

Additionally, Marsa Maroc manages terminals at nine Moroccan ports and offers logistic services, while the port operator seeks funds for expansion.

Moreover, Marsa Maroc valued at almost USD0.50bn, sold 29.36mn shares at USD6.5mn, while it raised USD0.19bn, including USD60.47mn from shares.

Meanwhile, Marsa has no debt and the government will continue to take dividends due to public deficits, and it had more than 2,000 workers.