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Morocco relaxes rules on stock buybacks

Morocco's stock market regulator eased restrictions on the price range of buyback plans to stop a decline in share prices.

  • Bloomberg
  • Published: 13:44 December 5, 2008
  • Gulf News

Casablanca: Morocco's stock market regulator eased restrictions on the price range of buyback plans to stop a decline in share prices.

The decline has wiped out more than $17 billion of market value in the country.

Companies listed on the Casablanca stock market may still buy back their shares even if they slipped below the buyback price range, Conseil Deontologique des Valeurs Mobiliere said in a statement.

The new measure was approved by the kingdom's Minister of Economy and Finance and will run until March 31, the Rabat-based regulator said.

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