Morocco: regulator authorizes capital increase of Attijariwafa bank

The Moroccan Capital Market Authority (AMMC) announced on June 25, 2021, that it had approved the prospectus relating to the increase in the share capital of Attijariwafa bank (AWB) by total or partial operational conversion into shares of a party dividends for the 2020 financial year.

According to the regulator, the maximum amount of the operation is 891,903,291 Moroccan dirhams (approximately 100 million USD) for a maximum of shares to be issued of 2,170,081 shares. The issue price is set at 411 dirhams, with a unit face value of 10 dirhams and an issue premium of 401 dirhams.

Authorized by the extraordinary general meeting held on May 27, 2021, the operation will run from July 13 to August 13, 2021 inclusive.

The maximum amount of the transaction represents approximately 63% of the group’s total dividend at the end of the 2020 financial year.

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