The Banque Nationale Agricole (BNA) has increased its stake in AMI Assurances [4]' capital. The latter rises from 26% to 50%.
The bank thus becomes the majority shareholder of the Tunisian insurer. This transaction comes one year after the conclusion of a bancassurance agreement between the BNA and the insurance company.
For the record, AMI Assurances has proceeded to an increase of its share capital [5] from 40 983 736 TND (14 509 500 USD) to 87 391 790 TND (30 939 500 USD). The operation included issuing 46 408 054 new shares with a nominal value of 1 TND (0.35 USD) each to be subscribed in cash at 2 TND (0.7 USD).
The subscription has been restricted, in priority, to the former shareholders and to the transferees of subscription rights on the Stock Exchange during the period running from 22 September 2021 to 14 October 2021.
According to Mohamed Skander Naija, General Manager of AMI Assurances, this capital increase will enable the company to strengthen its equity, improve its regulatory ratios and finance its development plan.