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Friday 17 September 2021
HomeNewsTunisia: Land'Or will more than double its capital

Tunisia: Land’Or will more than double its capital

The share capital of LAND’OR will be increased by 5,452,935 dinars to bring it from 4,846,875 dinars to 10,299,810 dinars in two simultaneous operations, stock market broker Mena Capital Partners (MCP) said on Tuesday.

This increase will be as follows: A capital increase in cash in the amount of 4,846,875 dinars with preferential subscription rights, by the creation of 4,846,875 new ordinary shares to be subscribed in cash, at the rate of (1) new for (1) old.

A capital increase in cash in the amount of 606,060 dinars, with the cancellation of preferential subscription rights, by issuing 606,060 new shares with a nominal value of 1 dinar, reserved for the benefit of the Maghreb investment fund Private Equity IV (MPEF IV).

The new shares to be subscribed for in cash will be issued at the issue price of 8.250 dinars per share, i.e. 1 dinar of nominal value and 7.250 dinars of share premium.

The new shares to be subscribed will be released in full at the time of subscription. The subscription to 4,846,875 new shares issued in cash is reserved, in priority, to the former shareholders holding the shares making up the current share capital and to the assignees of subscription rights on the stock market, both irreducibly and reducible on the basis of one (01) new action for a (01) old share, from 20/05/2019 to 28/06/2019 included, said MCP.

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