Taqa to sell stake in Morocco's Jorf Lafar Energy Company | The National:
"Abu Dhabi National Energy (Taqa) will for the first time list shares in one of its foreign subsidiares, with an IPO of its Moroccan operations.
The announcement came on the same day that the company confirmed its plans to boost its presence in northern Iraq by investing in new and existing power plant projects.
Taqa is set to raise 1.5 billion Moroccan dirhams (Dh667 million) by selling off 3.4 million new shares in Jorf Lasfar Energy Company (JLEC), its wholly owned Moroccan subsidiary.
JLEC yesterday announced that it had received approval from the Conseil Déontologique des Valeurs Mobilières Morocco’s financial markets authority, to increase its capital by 3.4 million shares, priced at 447.5 Moroccan dirhams each."
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