While the results of the IPO in Atlanta are just falling and that the introduction of SNEP is under way, the stock will soon be filled Casabalca celebrate the arrival of a 3rd company on this last quarter with Stokvis.
And it's not over yet we announce the arrival of 2 or 3 companies for this year end with the consumer society Salafin subsidiary of BMCE. Meanwhile
individuals, disappointed that most received only 2 shares in Tranche 2 of the introduction of Atlanta, will be able to catch up with Stokvis.
The company provides investors with no fewer than 183,903 shares at a price of 590 dhs is a total of 108.5 million dirhams.
The subscription period will begin November 12 and ends on the 14th of that month and will be piloted by CDG Capital as adviser and its subsidiary brokerage firm Safabourse as leader of a union that will also include BMCI Attijariwafa bank, BMCE stock market, and ART SOGEBOURSE Exchange. Stokvis
The company plans to use some of the money raised to fund the development of its new subsidiaries.
subsidiary Pacific Motors pocketing 45 million dirhams to expand the import of Chinese cars, the company is the 1000 cars in 2008 or about 1% of the Moroccan market.
Regarding another group subsidiary, Komcat it will benefit from 13.5 million dirhams for the activity of leasing vehicles.
In Concerning the distribution of the offer will be made up as follows:
Type 1: reserved for employees of Stokvis, are allocated 18,390 shares representing 10% of the amount offered.
Type 2: for natural persons and legal entities expressing orders under 500 shares, are allocated 64,366 shares or 35% of the amount offered.
Type 3: for natural persons and legal entities expressing orders between 500 and 5000 titles, are allocated 27,586 shares or 15% of the amount offered.
Type 4: Only legal persons expressing orders between 5000 and 8500 titles, are allocated 18,390 shares 10% of the amount offered.
Type 5; reserved for institutional expressing orders below 18,390 shares, 55,171 shares are allocated 30% of the amount offered.
The valuation methods employed show a price of 590 dhs a minority discount of 21.6% representing an overall recovery of 434 dhs millionds.
In detail, the DCF method gives 518 million dirhams, the market comparables 464 million dirhams (the sample is composed of Nejma Auto, Auto Hall, Berliet, Fénié Brosset, FERTIMA, RS and focuses on the PER and P / B ) and finally the Anglo Saxon method of 777.3 million dirhams.
The company realized a 2006 turnover of 469.99 million dirhams, up 53.9% over 2005 net profit of 20.25 million dirhams.
forecasts for 2007 and 2008 give a profit of respectively 28 and MAD 43,894 Mdhssoit a PER of 10.
The first listing will take place on 03/12 and it is clear that the organizers of this operation relies heavily on individuals, despite the modest size of the operation on the subscription should not be massive and we can have a satisfaction rate of 5% to 10%
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