Maroc Telecom IPO to raise EUR800 million

13 Dec 2004

Maroc Telecom says that strong demand for shares in its initial public offering (IPO) held yesterday should raise around EUR800 million for state coffers. The government’s sale of a 15% stake in the Islamic kingdom’s monopoly fixed line operator was 21 times oversubscribed with a high level of interest coming from the US, Europe and the Middle East. The shares were priced at the top of their indicated range and will commence trading in Casablanca at MAD68.25, and EUR6.16 on the Paris bourse, valuing the company at EUR5.4 billion (USD7.1 billion). According to Maroc Telecom chairman Abdeslam Ahizoune, investors see the company as attractive due to ‘the large proportion of distributable profits paid in dividends, and its growth potential, thanks to its dominant position and the low level of market penetration.’ As well as enjoying a monopoly on basic voice telephony services, which generated half its EUR1.4 billion turnover and EUR628 million profits in 2003, the incumbent also controls around 70% of the country’s wireless sector – a market which is predicted to grow sharply next year, lifting penetration by ten percentage points to 40%.

Morocco,Maroc Telecom (IAM),


Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate


Have feedback, corrections, or story ideas? Send them to

Browse Past Issues


Filter CommsUpdate by the following categories or use the search.


Visit our help page information on performing advanced searches, including how to restrict the results by country or company.


CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.