he Casablanca Stock Exchange set Jet Energy’s IPO price on Wednesday, November 11, at 143 dirhams a share, the top of the 125 to 143 dirham range announced in October.
The price came from the centralization of type I orders, under the method laid down in the offering memorandum the Moroccan Capital Market Authority approved on October 21. Subscriptions ran from November 2 to 5.
At that price, the issue of 2,625,000 new shares will bring the company 375.4 million dirhams, the ceiling of the offering. According to Red Med Capital, the IPO’s global coordinator, demand came close to 12 billion dirhams.
A subsidiary of Jet Contractors, Jet Energy designs, builds and operates solar plants, storage systems and power infrastructure. Its free float will make up 20% of the capital.
The stock will start trading on November 16 under the ticker NRJ, while subscriptions to Laprophan’s IPO stay open until November 17.
Photo: TelQuel.
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