CMF approves Tunis Re’s capital increase

Tunis Re has received approval from the Financial Market Council (CMF) to increase its share capital.
The transaction will be carried out through two mechanisms:

• 25 million TND (8.5 million USD) through the capitalization of reserves, involving the issuance of 5 000 000 new shares with a par value of 5 TND (1.7 USD) each.
• 75 million TND (25.7 million USD) through a cash contribution, involving the issuance of 15 000 000 new shares with a par value of 5 TND (1.7 USD) each.

The company’s share capital will therefore increase from 100 million TND (34.2 million USD) to 200 million TND (68.4 million USD).