Morocco Telecom's New Share Buyback Initiative
The Moroccan Capital Market Authority (AMMC) has officially approved a share buyback program for Itissalat Al Maghrib (IAM), commonly known as Morocco Telecom. This significant announcement was made on Wednesday and highlights IAM's strategic move to enhance shareholder value. The buyback program will allow the company to repurchase a maximum of 1.5 million shares, which represents approximately 0.17% of its total capital.
According to the AMMC’s statement, the maximum purchase price for these shares has been set at 170 dirhams, or its equivalent in euros, while the minimum selling price has been established at 78 dirhams, or its euro equivalent. This pricing strategy indicates a structured approach to the buyback, aimed at benefiting both the company and its investors.
The duration of this buyback program is established from April 10, 2026, to October 9, 2027, reflecting a commitment to long-term value creation. However, it is essential to note that this program is contingent upon the approval of the Ordinary General Assembly, which is scheduled to convene on March 26, 2026. This upcoming meeting will be crucial in determining the final approval of the buyback initiative.
In conclusion, this move by Morocco Telecom signifies a proactive step towards enhancing its market position and providing additional value to its shareholders. Stakeholders and investors should keep a close eye on the developments surrounding the approval and implementation of this program.
As reported by boursenews.ma.
