Moroccan Rags-to-Riches Family Plans Business IPO for Expansion
- Parent company started by former mechanic Abderrahmane Zahid
- Share offering aimed at expanding parent company’s operations
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Menara Prefa, a private building materials producer, plans to list shares on the Casablanca stock exchange in 2021 to help its family-run parent company expand operations domestically and in sub-Saharan Africa.
The Marrakesh-based firm operates Africa’s largest concrete plant and controls seven quarries. Menara Prefa generates 70% of parent company Menara Holding’s revenue.