Laprophan Wins Approval for Casablanca IPO
Moroccan pharmaceutical firm Laprophan received regulatory approval to launch an initial public offering aiming to raise 230 million dollars. The subscription period for the offering will run from November 9 to 17.
Morocco pharmaceutical company Laprophan has won regulatory approval to launch an initial public offering on the Casablanca stock exchange, aiming to raise 2.22 billion dirhams ($230 million). The offering represents a major capital expansion for one of the country's leading drug manufacturers. Investors are weighing the subscription terms as North Africa's capital markets see increased activity.
