Subscriptions to the firm price offer for the listing of “Assurances Maghrebia” on the main market of the Tunis Stock Exchange will start on Tuesday, December 22, 2020.
The proposed offer will be carried out through the placing on the market of 1.350 million shares with a nominal value of TND 10 each.
The opening percentage represents 30% of the current share capital. The share price is set at TND 55.500 per share.
This listing on the stock market will be carried out by:
A Fixed Price Offer (FPO) relating to 124 740 shares representing 9.24% of the public offer and 2.77% of the share capital of the company ” Assurances Maghrebia “, at a price of TND 55.500 per share.
The shares offered within the framework of the FPO will be addressed to Tunisian or foreign natural persons/ or legal entities applying for a minimum of 20 shares and a maximum of 22,500 shares for non-institutionals and 124,740 shares for institutionals.
A global placement of 1,225,260 shares, representing 90.76% of the public offering and 27.23% of the share capital of the company “Assurances Maghrebia” to investors wishing to acquire at least for an amount of TND 250,027,500, centralized at the Stock Exchange Intermediary MAC SA.
The global placement will be carried out at the same price conditions as the FPO, i.e. TND 55,500 per share.
Maghrebia, a subsidiary of Abdelaziz Sassi’s UFI GROUP, is the third largest insurance group on the market in terms of market share.
Created in 1973, the group posted a consolidated turnover of 236 million TND at the end of 2019, an increase of 8.4% compared to the previous year.
The consolidated net result reached 18.5 million TND during the same year, up 7.7% compared to that of 2018.