"Tunis R", a leading regional reinsurance company endeavors to strengthen its position in the local market by integrating the Tunis Stock Exchange through an initial public offering (IPO).
On March 26, 2010 the Arab Institute of Heads of Enterprises held a press conference on Tunis R's integration into the Tunis Stock Exchange.
During the conference, Mrs. Lamia Ben Mahmoud, the Director-General of the Tunisian company, said that Tunis R is the first African reinsurance company that will integrate an initial public offering as part of the implementation of the presidential program which aims at encouraging the listing of at least 30 additional enterprises on the Stock Exchange.
Following the granting by the financial market of a visa to "Tunis R", the company has opened a public offering through a fixed price at 7 dinars including 5 dinars of nominal shares and 2 dinars of premium shares.
"Tunis R" aims at increasing its capital stock to 14 million dinars in order to strengthen its positioning at the local market and to boost its presence on the foreign market as well as doubling its net profit by 2014.
In an interview with TUNISIAONLINENEWS, Mrs. Ben Mahmoud said that Tunis Re's integration into the Tunis Stock Exchange is an opportunity to present the necessary documents including the release of a 250 page document stressing the transparency of the company's financial operations.
Tunisia Online News 2010
