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Tunisia: Euro-cycles officially traded

A ceremony was held Monday, June 24, 2013, on the occasion of the first listing of Euro-cycles on the main market of the Tunis Stock Exchange.

At 10 am, Habib Esseyah, CEO of the company rang the bell to officially announce the start of the listing of the company in the presence of representative of the Financial Market Council and officials the Tunis Stock Exchange, the central depositary and stock exchange broking companies. It is the sixth listing since the beginning of the year.

The introduction of Euro-cycles the main market was made following a public tender for the sale of 30% stake, or 1.62 million existing shares, issued by a firm price offer of 907,200 shares and a guaranteed investment of 712,800 shares at a price of 11,200 dinars per share, or a total of 18.2 million dinars.

Nearly 7,600 subscribers participated in the operation. The demand for public offering of shares represented 3.6 times the proposed securities offering.

Through this IPO, Euro-cycles seeks to strengthen its reputation and expand its markets.

With 5.4 million shares of a nominal dinar making up its share capital listed on the main market of the Tunis Stock Exchange, the market capitalization of Euro-cycles amounts to 61 million dinars (MD).

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