Assurances Maghrebia Vie obtains acceptance from BVMT for its stock market listing

Assurances Maghrebia Vie, the pioneering life insurance company in Tunisia, part of the Maghrebia Group, the third largest insurance group by market share, will soon join the shores of the Tunis Stock Exchange.

On Thursday, October 20, 2022, the board of directors of the Tunis Stock Exchange gave its agreement in principle to the admission of securities of Assurances Maghrebia Vie on the main market of the BVMT, pending a visa from the Financial Market Council. (CMF) .

Assurances Maghrebia Vie intends to open its capital up to 30%.

The total offer will concern 7.5 million shares consisting of a capital increase in cash by the creation of 5 million new shares with a nominal value of 1 dinar each and the sale of 2.5 million old actions on the other hand. The introducing intermediary is Mac SA.

This IPO, which is planned for before the end of this year, will allow Maghrebia Group, which has been supporting its customers for 50 years, to pursue its development program and strengthen its reputation in the life insurance market.

In regular and homogeneous growth, in 2021 Maghrebia Vie had a turnover of 93.2 million dinars, an increase of 18.7% compared to the previous financial year, a net profit of 12.6 million dinars, representing an increase of 15.5 % and a return on equity of 21%.

It should also be remembered that the Maghrebia group, which consists of five companies organized around the strategic poles of property and casualty insurance, life insurance, finance, real estate and services, is in its second IPO after Maghrebia Insurance operated in 2020.

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