The bank said in a statement following the general assembly that the listing aims to raise 600 million dirhams ($60 million).
According to the announcement issued regarding the public offering, the issue price will be set within the range of AED 500 to AED 600 per share.
CFG Bank will become the seventh banking institution listed on the Casablanca Stock Exchange. The last IPO on the stock exchange was in December 2022.
At the end of the first half of 2023, CFG Bank achieved pre-tax profits of 309 million dirhams, an increase of 35% over the previous year. Net profits amounted to 71 million dirhams, an increase of 231 percent.
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