“August Line” looks forward to the Moroccan stock market
Alihuti started in the extraction analysis of the trading company and asked his other colleagues to do so. Through that experience, his colleagues decided to enter together in business. The next point is the acquisition of a license and mediation, and the formation of a partnership with the Bank of Credit Eunice French, on behalf of the father of Wayne.
“August Line” establish investment bank in 1992
Today, the father of the Group of Wayne, whose profits last year amounted to six million dollars from income of $ 18 million dollars, is preparing to expand its balance sheet, through the search for new institutions to be partners in the ownership, and seek registration on the Exchange in Casablanca.
Much has changed in the Moroccan business scene than in the past. In an era where Altsainiat of the last century Moroccan companies – most companies either owned or owned by families – believed to be used for investment bank services was a little bit.
But then, the new laws aimed at attracting foreign direct investment was a series of privatizations, which led to the recovery of life on the Exchange in Casablanca.
And have begun to attract considerable attention from investors and local companies alike, which seeks to increase the equity, even if they are tied to the number of shares registered.
Alihuti say: The Moroccan business is now estimated additional value which we have labored. Behind the economic reforms index rose Morocco-General of the shares by 34 per cent in 2007.
This year, the index fell by 2.3 per cent, since the global credit crunch beaten to Casablanca, which was relatively isolated market.
As Alihuti says, “the father of Line”, is currently the second largest in the country, in the area of corporate finance after the Group C. F. Ji. It was a huge intervention in transactions, such as the treatment was last year, with the sale of 20 per cent of the “CNN. Ji. Aye”, which works in real estate, which has provided about 500 million dollars.
Among the clients investment bank huge French company Vivendi operating in the area of recreation and Savola Group, a Saudi company in the field of food and Shell Morocco.
The company launched the first special fund technical sector in 2001, which says that it Alihuti increased three times since its founding five years. The bank is now preparing to launch a special fund information sector, for the purchase of stakes in radio stations and newspapers.
Alihuti and two of the original founders own 34 per cent of the bank. A Palestinian partners own 10 per cent and the rest owned by the royal family in Morocco.
But the plan now is to be the owner in the form of attracting large enterprise. There are ongoing discussions with the Central Bank Aboubiler, the largest banking group in Morocco.
Alihuti say: registration on the stock exchange within our agenda. We are waiting to see if the deal with the “me. CNN. B” going well. If so, will be recorded at the end of 2009. If not we will do so at an early date.
He added: We have to be larger and increase the number of investors, especially large enterprises.
At present, the “father of Line” focused on Morocco. She had tried to buy a license and financial intermediation in Egypt, but stalled a few years ago. And although the “father of Line” is working in Tunisia, but other markets in North Africa such as Libya and Algeria, it remains difficult to penetrate.
Alihuti say: we love to be able to work in other markets. But there are two problems: first, there are too many things to be done here, and second, we could not find the necessary cadres, where we have 60 people, cadres, and we brought the Chief of Research and Head of Information Technology of the United States, because we did not find people who want them here .