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resume introductions with DLM


That nearly three months that no company was floated on the Casablanca stock exchange, three month-long dearth of fresh paper that intérompre just entering the financial market Moroccan Delattre Levivier MOROCCO (DLM). This large SME

certainly will not change the composition of the Casablanca stock exchange given the modest size of the operation limited to 91.125 million dirhams compared with a market capitalization that flirts with the bar of 675 billion dirhams but nevertheless allow the machinery to revive and restore the place to Moroccan headlines.



Many Moroccans had become accustomed gradually to the stock exchange mechanisms with many introductions in 2007 that reached number Reccord of 10 acquired companies and therefore looked forward to the 2008 vintage. But then
that the company may be only an appetizer and a large number of investors may be disappointed for a number of points. All of
abbord as has been said the size of the business remains relatively small with a market capitalization of 364.5 million dirhams and an offer of only 125 000 new shares at a price of 729 dirhams, or a total of 91.125 million dhs representing a float of 20%.

addition the union is chosen too small with only 2 players, BMCI as leader and the brokerage firm ICF Al Wasit, intermediaries far the leaders in the field of intermediation market in Morocco.
So unless you open an account with such brokerage firms, investors will have to wait until the first day of trading on 29/04 to purchase securities.

For those still wishing to take the steps necessary to acquire securities in this introduction here are the details of the transaction taking place from April 14 to 16 with a possibility of early closing on 15th evening:

Type 1: reserved for employees of DLM, 6000 offered shares or 6% of capital

Type 2: for natural persons (PP) and legal (PM) expressing lower levels to 1,000 shares, 35,250 shares offered is 28.2% of the capital

Type 3: Reserved for PP and MP expressing orders between 1000 and 5000 shares, 25000 shares offered 20% of capital.

Type 4: Institutional expressing orders below 12,500 shares, 58,750 shares offered at 47% of the capital

Please note that orders will be served by successive iteration for type 2 and type 3 pro-rated, so given supply is more important for Class 2 is better for investors of just over 1000 shares to reduce their requests to stay under the threshold of the fateful thousand titles.
Moreover, it should be noted that there will be no effect leverage as possible, it will have 100% of the amount requested in the subscription. A union

limited, the lack of leverage, it seems that different actors have understood the need to return more reason to encourage investors and vraix avoid windfall for wealthy speculators who asked the maximum allowed without having the funds.
Sanctions CDVM on the latest introductions were thinking more of a corporation, a reminder he had sanctioned several companies for breach of rules including UPLINE who fined a record 10 million dirhams.
The company
DLM will use these funds to develop its export business and also for starting a business of building wind turbine towers in Morocco. DLM
achieved a 2006 turnover of 317 million dirhams and a net profit of 7,618 billion, respectively, is expected in 2007 and 460.27 billion for 2008 and 13.737mds 559.59 billion and 18,567 billion.