Trading in the shares of Société Immobilière Tuniso-Saoudienne ‘SITS’ will resume on Tuesday, October 8, following the publication of a simplified takeover bid for the shares, the Tunis Stock Exchange has announced.
The listing of SITS shares has been suspended since October 2 at the request of the Financial Market Council (CMF) following the publication of a simplified takeover bid for the company’s shares, it added.
On October 1, the CMF received a request from MAC SA, a stock market broker, to launch a simplified takeover bid for 2,336,815 SITS shares, representing 14.98% of the company’s share capital.
The initiator of this project is Partner Investment SARL, acting in concert with Founders Capital Partners, which together hold 85.02% of the company’s share capital.
