Economy & Politics

Morocco: CIH Bank reduces its stake in

The Moroccan Market Authority (AMMC) informs the public that following the capital increase of Atlanta by merger-absorption of Sanad, CIH Bank declared to have crossed directly downwards, by an effect of dilution, the 10% participation threshold in the capital of AtlantaSanad Assurance.

Following this transaction, CIH Bank declared that it would continue to hold 6,019,844 AtlantaSanad Assurance shares, ie 9.98% of the capital of the said company (post-merger). CIH Bank also declared that it had acquired 8,516 AtlantaSanad Assurance shares on the central market on October 8, 2020. Following this acquisition, CIH Bank declared that it held 6,028,360 AtlantaSanad Assurance shares, or 10% of the company’s capital. Within twelve months of the above threshold crossings, CIH Bank plans to stop its purchases on the security.

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Based in Casablanca, journalist and expert in financial communication. Loves Africa and sees journalistic writing as a one-word mission: Inform.

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