Centrale Danone has initiated the procedure for delisting its equity securities from the Casablanca Stock Exchange.
This decision was ratified during the Board of Directors of Centrale Danone, held on December 2. The dairy group explains this withdrawal by the very small free float and the low liquidity of the share. Thus, the Moroccan Capital Market Authority (AMMC) announced on December 6 that Compagnie Gervais Danone has filed a draft public buyout offer targeting Centrale Danone shares.
The AMMC indicates that as a result of this filing, it asked the Casablanca Stock Exchange to suspend the listing of Centrale Danone shares. The capital market policeman explains that this public buyout offer relates to Centrale Danone shares not held by Compagnie Gervais Danone (parent company of Centrale Danone).
“Following this offer, Centrale Danone intends to request its delisting from the Casablanca Stock Exchange. According to stock market regulations, the AMMC has 15 trading days to examine the admissibility of this project ”, we note.
“This period is suspended by requests for information and justifications by the AMMC. If the draft public offer is declared admissible, its main provisions will be published in a notice of admissibility. The publication of this notice marks the start of the offer period ”, specifies the AMMC.