The Tunis Stock Exchange has announced that the SANAD fund now holds more than 10% of Hannibal Lease.
The SANAD fund, financed by the European Union, has directly acquired 1,158,499 shares representing 10.5% of the leasing company’s capital.
It should be recalled that in August 2023, stock market broker MAC SA announced that it had received a request from the SANAD Fund for MSME Equity sub-fund II to carry out a possible optional takeover bid for 22% of the capital of Hannibal Lease.
MAC SA indicated that the transaction would involve 2,420,000 shares at a price of 5 dinars per share, for a total amount of approximately 12.1 million dinars.
The stock exchange broker pointed out that CMF’s decision to accept this optional tender offer was subject to the approval of the BCT.
The aim of the SANAD Fund is to provide market-based financial instruments, in particular to microfinance institutions in the MENA region, by encouraging them to improve access to finance for micro, small and medium-sized enterprises (MSMEs) in order to support growth and job creation in Algeria, Egypt, Jordan, Lebanon, Morocco, Palestine and Tunisia.
