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The initial public offering (IPO) of 15 per cent in Maroc Telecomhas been approved by Rabat. Most of the shares will be floated on the Casablanca Stock Exchange, with the remainder to be offered on the Bourse de Paris. The subscription period is expected to last from 20 November to 10 December. The door was opened for the IPO with the government’s adoption in October of a draft law authorising the transfer of shares in public enterprises to the private sector through foreign exchange markets. The government hopes to raise MD 9,000 million ($1,000 million) from the sale.