Morocco's Chaabi group plans six IPOs after SNEP

Moroccan industrial group Chaabi aims to list six more of its companies after it successfully floated chemicals unit SNEP last year, its chairman, Miloud Chaabi, said on Wednesday.

Chaabi's conglomerate, Ynna Holding, has interests in real estate and construction, retail, tourism, agribusiness and manufacturing.

"Six profitable and important companies from Groupe Miloud Chaabi will be listed on the bourse," Chaabi told reporters and analysts in Casablanca.

"We will follow ... SNEP's IPO because we are happy with the market and our shareholders are seeing the benefits," he added.

He did not explained which companies would be next but analysts say a likely candidate is Chaabi Lil Iskane, the group's real estate arm.

The enterprises are likely to further impetus to the small Casablanca property stock exchange, which has been marked for funds in the market in recent years, but the relative lack of new investment opportunities, stretching assets listed stocks.

Family firms dominate in the private sector of Morocco property, but many of them are poorly suited to the modern global economy, and can be difficult to survive due to trade barriers between Morocco ptoperty and the outside world is gradually decline, economists say.