The Financial Market Council (CMF) announced, in a press release, that the company Tunivest-SICAR was asked to provide additional information (beyond what was published in its activity indicators, which mentioned “an increase in dividends distributed by portfolio companies”) that could explain the continued rise in its share price.
In its response to the CMF, Tunivest-SICAR stated the following:
“…Following this publication, we observed a significant rise in the Tuninvest SICAR share price, which directly stems from the release of these indicators. It is plausible that this increase followed the publication of the indicators as of September 30, 2025.
These indicators clearly highlight the growth of the revenues generated by our company, driven mainly by the performance of one of its assets, the company Nouvelair, in which Tuninvest SICAR holds 8.5% of the capital.
In 2025, Nouvelair proceeded, for the first time since Tuninvest SICAR entered its capital, with a distribution of dividends of a significant amount, which had a direct impact on Tuninvest SICAR’s revenues during the period and is very likely the factor explaining the observed price variation.
To date, we have no additional information, beyond what has already been disclosed to the market, that would affect the share price or could lead to an information asymmetry…”
