RABAT (Reuters) -Moroccan construction firm SGTM has won approval to launch an initial public offering on the Casablanca stock exchange, bourse regulator AMMC said on Tuesday.
SGTM aims to raise 5.04 billion dirhams ($545 million), AMMC said in a statement.
The subscription period runs from December 1 to December 8, it said.
Besides Morocco, the firm operates in six other African countries including Senegal, Ivory Coast and Burkina Faso.
The listing would help the company strengthen its foothold in Morocco and on the continent, boost transparency and bolster access to financial markets to fund its expansion, SGTM said in a statement.
(Reporting by Ahmed Eljechtimi; Editing by Joe Bavier)
