Moroccan Homebuilder Dar Saada Said to Seek $120M in 2014 IPO

Residences Dar Saada, controlled by Casablanca-based Groupe Palmeraie Developpement, seeks to raise around 1.1b dirhams ($124m) in initial public offering before end-2014, according to two people with knowledge of matter.

* Prospectus filed with bourse regulator CVDM;
* Co. to sell 20% stake in IPO;
* Listing would be first on Casablanca bourse this year;
* Information from people with knowledge of matter who asked not to be identified because the plans not public;
* Dar Saada didn’t return calls seeking comment. Source: Bloomberg