Subscription to the opening of capital from September 10th to 30th 2009
TUNIS, August 27, 2009 - Under the privatization program initiated by the Tunisian government to withdraw from competitive activities, the company "Les Ciments de Bizerte" has decided to increase its capital in cash by issuing to the public new shares representing 20% of its capital after increasing.
On August 24, 2009, the Tunisian Financial Market Council has given his approval for listing the Company IPO's on the Main Market of the Tunis Stock Exchange Market under fixed price offer. The operation will focuses on 8 809 460 new shares issued through a capital increase by public call for savings at the cost of 11,500 dinars by unity (1 dinar as nominal and 10.500 dinars as nominal premium of issue) ( 1 USD = 1.320 TND). Subscriptions will be received from all licensed stock brokers from September 10 until September 30, 2009.
The new shares carry dividend rights from January 1st 2009.
The offered shares will be divided into five categories:
60% of the offer for Tunisian private companies other than mutual funds (banks, insurance, SICAF, SICAR and pension funds);
15% for Tunisian private financial companies (SICAV and FCP) ;
20% for individuals and / or entities to those seeking at least 101 shares;
4% for individuals and / or entities to those seeking more than 100 shares;
And 1% for the company personnel.
The total amount to be leveraged is up to 101.309 million dinars and will allow the company to consolidate its growth and development strategy that the company intends to do. "The target, says CEO, Mr. Amor Nsairi is to strengthen the supply to the local market and meet the increasing demand of foreign markets through the implementation of the second part of "The Upgrading Program", initiated by the Ministry of Industry, Energy and Big & Small companies. The amount of the increased capital will be used to fund the second part of "The Upgrading Program", to increase the production capacity of 900mt to 1 650mt by 2013 and thus gain a greater market share. "
In 2008, the company "Les Ciments de Bizerte" achieved a turnover of 90.5 MD up by 25.5% over 2007, carries more than 59.3% of its revenues on the local market and the rest from export. The bulk of company revenues consist of sales of cement (81.5 MD).
The turnover of the company increased significantly during the last 3 years (85%). This upward trend is mainly explained by higher selling prices both on the local market and export as well as against the value of sales denominated in Euros.
For export sales, the pace of growth was stronger, rising from 158,000 tonnes in 2005 to 372,000 tons in 2008, more than double over the past three years.
The company "Les Ciments de Bizerte" provides 11.1% of national cement consumption and exports 26.9% of national exports.
-Ends-
For more information, please contact:
PR Factory
Roufayla Drissi
Ennour Building, Cit des Sciences
Tel: +216 71 232 111
Fax: +216 71 750 333
Email: pr@thcom.com.tn
Website: www.prfactory.com.tn
PoBox 200 - 1082 Tunis Mahrajene, Tunisia
Press Release 2009
TUNIS, August 27, 2009 - Under the privatization program initiated by the Tunisian government to withdraw from competitive activities, the company "Les Ciments de Bizerte" has decided to increase its capital in cash by issuing to the public new shares representing 20% of its capital after increasing.
On August 24, 2009, the Tunisian Financial Market Council has given his approval for listing the Company IPO's on the Main Market of the Tunis Stock Exchange Market under fixed price offer. The operation will focuses on 8 809 460 new shares issued through a capital increase by public call for savings at the cost of 11,500 dinars by unity (1 dinar as nominal and 10.500 dinars as nominal premium of issue) ( 1 USD = 1.320 TND). Subscriptions will be received from all licensed stock brokers from September 10 until September 30, 2009.
The new shares carry dividend rights from January 1st 2009.
The offered shares will be divided into five categories:
60% of the offer for Tunisian private companies other than mutual funds (banks, insurance, SICAF, SICAR and pension funds);
15% for Tunisian private financial companies (SICAV and FCP) ;
20% for individuals and / or entities to those seeking at least 101 shares;
4% for individuals and / or entities to those seeking more than 100 shares;
And 1% for the company personnel.
The total amount to be leveraged is up to 101.309 million dinars and will allow the company to consolidate its growth and development strategy that the company intends to do. "The target, says CEO, Mr. Amor Nsairi is to strengthen the supply to the local market and meet the increasing demand of foreign markets through the implementation of the second part of "The Upgrading Program", initiated by the Ministry of Industry, Energy and Big & Small companies. The amount of the increased capital will be used to fund the second part of "The Upgrading Program", to increase the production capacity of 900mt to 1 650mt by 2013 and thus gain a greater market share. "
In 2008, the company "Les Ciments de Bizerte" achieved a turnover of 90.5 MD up by 25.5% over 2007, carries more than 59.3% of its revenues on the local market and the rest from export. The bulk of company revenues consist of sales of cement (81.5 MD).
The turnover of the company increased significantly during the last 3 years (85%). This upward trend is mainly explained by higher selling prices both on the local market and export as well as against the value of sales denominated in Euros.
For export sales, the pace of growth was stronger, rising from 158,000 tonnes in 2005 to 372,000 tons in 2008, more than double over the past three years.
The company "Les Ciments de Bizerte" provides 11.1% of national cement consumption and exports 26.9% of national exports.
| Capital Structure | Before Fixed Price Offer | After Fixed Price Offer |
| Tunisian State | 99,77% | 79,81% |
| Other shareholders | 0,23% | 0,19% |
| Public | - | 20% |
| Total | 100% | 100% |
For more information, please contact:
PR Factory
Roufayla Drissi
Ennour Building, Cit des Sciences
Tel: +216 71 232 111
Fax: +216 71 750 333
Email: pr@thcom.com.tn
Website: www.prfactory.com.tn
PoBox 200 - 1082 Tunis Mahrajene, Tunisia
Press Release 2009
