Moroccan World Cup Stadium Builder Soars in Its Trading Debut
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000One of Morocco’s largest builders for the FIFA World Cup surged in early trading, after it raised 5.04 billion dirhams ($548 million) to help construct a giant stadium and other infrastructure for the upcoming event.Shares of SGTM rose by the daily limit of 10% by 11:20 a.m. in Morocco on Tuesday, after pricingBloomberg Terminal an initial public offering at 420 dirhams per share. The IPO is the second largest since the inception of the Casablanca stock exchange in 1929.