Moroccon construction company TGCC given nod for Casablanca IPO

RABAT (Reuters) - Moroccan construction company TGCC has won approval for an initial public offering (IPO) on the Casablanca stock exchange to raise 600 million dirhams ($65 million), bourse regulator AMMC said.

The company will issue 2,202,589 new shares while its current stakeholders will sell the same number of shares, priced at 136 Moroccan dirham ($14.7) per share, the regulator said.

The subscription period will run from Nov. 29 to Dec. 3.

(Reporting by Ahmed Eljechtimi; Editing by David Goodman)