News

Allen & Overy advises CFG Bank on its IPO

Published Date
Nov 27, 2023
Allen & Overy advised CFG Bank (CFG) as issuer’s counsel on its initial public offering (IPO) on the Casablanca Stock Exchange (CSE). CFG will raise approximately MAD600 million by issuing new shares at MAD 110 each on the main market of the CSE. This is the sole IPO on the Moroccan market for the 2023 fiscal year and the first listing of a bank on the CSE since 2004.

The IPO, which will launch on 30 November 2023 and is expected to close on 7 December 2023, will enable CFG to strengthen its capital base and support its growth strategy in the banking and financial services sector. CFG is a leading private bank in Morocco, offering a range of products and services to corporate, institutional and individual clients.

The A&O team in Casablanca was led by partner Hicham Naciri and with the support of senior associates Lamya Kerroumi and Zineb El Kouhen.

The IPO, which will launch on 30 November 2023 and is expected to close on 7 December 2023, will enable CFG to strengthen its capital base and support its growth strategy in the banking and financial services sector. CFG is a leading private bank in Morocco, offering a range of products and services to corporate, institutional and individual clients.

The A&O team in Casablanca was led by partner Hicham Naciri and with the support of senior associates Lamya Kerroumi and Zineb El Kouhen.

Content Disclaimer
This content was originally published by Allen & Overy before the A&O Shearman merger

Related capabilities

Capital MarketsBanks

About the
authors

Image

Hicham Naciri

Partner

Casablanca

He advises international and domestic clients on a wide range of transactions, including mergers & acquisitions, capital markets, p...
No image available

Lamya Kerroumi

Senior Associate

Casablanca

She has extensive experience in advising Moroccan and international clients on transactions across various sectors, such as financial s...
Zineb El Kouhen

Zineb El Kouhen

Senior Associate

Casablanca

She has acted for issuers, underwriters, shareholders and financial intermediaries on a range of matters, such as M&A deals, pub...