CIH Bank has successfully completed its capital increase operation reserved for shareholders and holders of preferential subscription rights by issuing 977,499 new shares.
This capital increase amounts to 349,944,642 dirhams, divided into 97,749,900 dirhams of share capital and 252,194,742 dirhams of issue premiums, indicates a press release from the Bank published on the website of the Moroccan Capital Market Authority (AMMC). The Bank’s Board of Directors, meeting on August 28, 2024, noted the completion of this transaction in accordance with the terms described in the prospectus approved by the AMMC on June 28, 2024 under reference VI / EM / 020 / 2024, adds the same source. At the end of this subscription period, the total number of shares allocated amounts to 977,499 new shares representing the maximum number of the transaction, i.e. a completion rate of 100%.
Following this operation, the share capital of CIH Bank increases from 3,051,978,400 dirhams to 3,149,728,300 dirhams.
The successful closing of the transaction, with a subscription level of 123%, particularly for the Stock Market Float where this rate exceeded the 200% threshold, demonstrates the subscribers’ confidence in the Bank’s fundamentals and its future prospects, the press release concludes.
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– 2024-09-05 01:31:32
