The Moroccan Capital Market Authority (AMMC) announced on Wednesday that First Commercial Estate Company (FCEC) has decreased its stake in Aradei Capital to 3.46%.

“First Commercial Estate Company (FCEC) reported selling 388,467 shares of Aradei Capital on the block market on June 12, 2024, to Zakah Capital SARL at a unit price of 480 dirhams, thus crossing below the 5% ownership threshold in the company,” stated an AMMC press release.

Following this transaction, FCEC now holds 388,466 shares of Aradei Capital, representing 3.46% of the company’s capital, the same source added.

FCEC also announced that it plans to halt any further sales of this stock for the next six months following this threshold crossing.