HomeNewsTunisia: STB gets CMF license for capital increase

Tunisia: STB gets CMF license for capital increase

The “Société Tunisienne des Banques”Tunisian (STB) has received the license of the Financial Market Council (CMF) for a capital increase with an amount of 652 MTD, 130,515,000 shares at par value of 5.000Dt and by means of 21 new shares for 4 existing shares. The capital of the STB will increase from 124.3 MTD to 776.8 MD.

The subscription period will run from August 3, 2015 to September 1, 2015 included. The new shares issued (130,515,000 shares) will carry rights to dividends as from July 1, 2015.

The 24,860,000 existing shares comprising the current share capital of the bank listed on the stock exchange will be traded from August 3, 2015.

The 130,515,000 new shares to be subscribed in cash will be tradable on the stock market from the final completion of the capital increase in cash in accordance with applicable provisions regarding corporate capital increases, independently of existing shares until the date for the payment of dividends for the year 2015, the date from which they will be assimilated with existing shares.

Stock market trading of subscription rights will take place from August 3, 2015 to September 1, 2015 inclusive.

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