As part of the preparation in view of the integration of its initial public offering, in the first quarter of 2010, "Tunis Ré", a leading regional reinsurance company, decided to increase its capital from 35 million dinars to 45 million dinars and reduce the company's shares from 10 dinars to 5 dinars currently.
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 first Extraordinary General Assembly was convened to the convert part of the reinsurer's capital which consist of investment certificates (IC) into ordinary shares, knowing that 10 institutions possess 350, 000 certificates with a nominal value of 10 dinars, totaling 10% of Tunis Ré's capital.
The increase of Tunis Ré's capital by 10 million dinars was made through the issuance of 2,000,000 new shares at 5 dinars each.
Regarding the issue of new shares, shareholders agreed to fix the price to 7 dinars including 5 dinars of nominal shares and 2 dinars of premium shares.
According to the Tunisian Stock Exchange website "Tustex", the integration of theTunis Ré on Tunis Stock Exchange will be achieved through the capital of the National Agricultural Bank (BNA) and "the Maxula Stock Exchange", one of the most active intermediaries in the Tunisian stock market, whereas THCOM will be in charge of the financial reporting.
Created in 1981, "Tunis Ré" includes shareholders such as STAR COMAR, SALIM, CTAMA GAT insurances, STB, BNA and ATB banks as well as the "Société Immobilière et de Participation" (SIMPAR).
© Tunisia Online News 2010
