According to the Tunisian Stock Exchange website "Tustex", "Tunis RE", a leading regional reinsurance company, is preparing to integrate the initial public offering in the first quarter of 2010.
The company's first extraordinary general meeting was convened to convert part of the reinsurer's capital which consists of investment certificates into ordinary shares.
A second extraordinary general meeting will decide on the International public offering of "Tunis Re" by increasing its capital, through a public offering subscription.
The "TUNIS Re" stock share has been rated at 14 dinars. Its integration will be achieved through the capital of the National Agricultural Bank (BNA).
Thanks to an uninterrupted profitability over the last 27 years, the company was able to raise its capital from 2 million dinars to 35 million dinars currently, with shareholder's equities amounting to 50 million dinars.
Since its creation in 1981, "TUNIS RE" has been fast developing on the Tunisian and international markets.
"TUNIS RE" was entrusted the management, of insurance and reinsurance Pools including Marine Hull Pool, Aviation Pool and the Decennial liability Pool.
It is also is a member of regional professional organizations such as the Tunisian Insurance Federation ((FTUSA), the African Insurance Organization (FAIR), as well as the General Arab Insurance Federation (OAA) and the Federation of Afro-Asian Insurers and Reinsurers (UGAA).
© Tunisia Online News 2009
