Stock Market: Timar joins listed companies
19 July 2007
Read by 3375 persons
The 100% Moroccan transport company will be listed on the stock exchange from July 17, with the issuance of 45,000 shares. Amount of the operation: 15 million dirhams.
New listing on the Stock Exchange. Who said that the Stock Exchange was the privilege of large companies? The proof. On June 19, the Ethics Council for Securities (CDVM) approved the note relating to the listing on the Stock Exchange through the issuance of shares of Timar, a company specializing in international freight transport. In fact, the operation was accompanied by an increase in the company's capital. The company's approach was motivated by the diversification and increase of its resources, the strengthening of equity and the consolidation of cash flow, the reduction of its dependence on credit institutions, and the need to position itself on the market.
Thus, the company will issue 45,000 shares, the subscription price of which will be set at 350 dirhams per share. These shares will be listed on the first line of quotation, which will be based on the firm offer OPF. It should be noted that the former shareholders, having abandoned their preferential subscription rights in favor of the new shareholders, their participation will be diluted by 23% in Timar's capital. The latter will no longer hold more than 77% of the shares making up the capital.
The subscription period is scheduled from July 2 to 4, 2007, and the shares will be allocated at a rate of one share per subscriber, with priority given to the strongest demands. Thus, at the session of July 17, Timar will be effectively introduced to the Casablanca Stock Exchange and listed in the third compartment of the listing.
It should be noted that the registration of transactions related to the operation (seller side) will be handled by the brokerage firm Finergy. On the buyer side, the operation will be carried out through the brokerage firms Finergy, Crédit du Maroc Capital and Eurobourse. In addition, Timar has appointed Crédit du Maroc as the sole depository of the securities issued as part of this operation. At Finergy, very confident, the person in charge of the file emphasizes that "this operation, valued at 15 million dirhams, will allow the company to strengthen its cash flow and detach itself from its dependence on subcontractors and credit institutions. In addition, this 100% Moroccan company has made its mark on the market, it competes with large international firms, and it has the advantage of not being backed by a parent company, so it is the one that sets its strategic lines and chooses its partners." And to add "we really think that this capital increase will allow this company to advance in its field and to assert itself. Moreover, it should be taken into consideration that Timar's field of action is in full growth."
Published on 22/06/2007
Aujourd’hui.ma
New listing on the Stock Exchange. Who said that the Stock Exchange was the privilege of large companies? The proof. On June 19, the Ethics Council for Securities (CDVM) approved the note relating to the listing on the Stock Exchange through the issuance of shares of Timar, a company specializing in international freight transport. In fact, the operation was accompanied by an increase in the company's capital. The company's approach was motivated by the diversification and increase of its resources, the strengthening of equity and the consolidation of cash flow, the reduction of its dependence on credit institutions, and the need to position itself on the market.
Thus, the company will issue 45,000 shares, the subscription price of which will be set at 350 dirhams per share. These shares will be listed on the first line of quotation, which will be based on the firm offer OPF. It should be noted that the former shareholders, having abandoned their preferential subscription rights in favor of the new shareholders, their participation will be diluted by 23% in Timar's capital. The latter will no longer hold more than 77% of the shares making up the capital.
The subscription period is scheduled from July 2 to 4, 2007, and the shares will be allocated at a rate of one share per subscriber, with priority given to the strongest demands. Thus, at the session of July 17, Timar will be effectively introduced to the Casablanca Stock Exchange and listed in the third compartment of the listing.
It should be noted that the registration of transactions related to the operation (seller side) will be handled by the brokerage firm Finergy. On the buyer side, the operation will be carried out through the brokerage firms Finergy, Crédit du Maroc Capital and Eurobourse. In addition, Timar has appointed Crédit du Maroc as the sole depository of the securities issued as part of this operation. At Finergy, very confident, the person in charge of the file emphasizes that "this operation, valued at 15 million dirhams, will allow the company to strengthen its cash flow and detach itself from its dependence on subcontractors and credit institutions. In addition, this 100% Moroccan company has made its mark on the market, it competes with large international firms, and it has the advantage of not being backed by a parent company, so it is the one that sets its strategic lines and chooses its partners." And to add "we really think that this capital increase will allow this company to advance in its field and to assert itself. Moreover, it should be taken into consideration that Timar's field of action is in full growth."
Published on 22/06/2007
Aujourd’hui.ma
