Assurances Maghrebia Vie: IPO

Assurances Maghrebia Vie, a subsidiary of the Maghrebia group has been granted approval in principle by the Board of Directors of the Tunis Stock Exchange (BVMT) for its initial public offering.

The Tunisian insurer intends to open its capital up to 30%, or 7.5 million shares.

The capital increase will be made in cash by creating 5 million new shares with a nominal value of 1 TND (0.3 USD) each and by selling 2.5 million old shares.

In 2021, Assurances Maghrebia Vie has recorded a turnover of 93.2 million TND (32.3 million USD) and a net profit of 12.6 million TND (4.4 million USD). The return on equity stood at 21%.