Tunisie Tribune (subscription of the capital of Maghrebia Vie) – Subscriptions to the capital i Maghrebia Life Insurance began on Thursday, December 15 as part of an initial public offering. They will continue until December 23, 2022 inclusive. The price of the offer is D6,080 per share at a par value of one (1) TND and the date of entitlement to the shares is set at 1eh January 2022. A total of 7,500,000 shares are offered.
The consolidation of equity capital, said Nabil Essasi, chairman of the board, aims to strengthen digital transformation and product innovation, international development at high level markets and active contribution and sustainable development. For his part, Habib Ben Hassine, CEO, emphasized the great potential offered in Tunisia for life insurance. With a total of 722 MD in 2021, with a market share of 25% in the insurance sector, it registers double-digit annual growth, but the potential is still very strong. The average Tunisian spends only 60D per year on life insurance, and the market is capable of growing rapidly three to four times.
Reviewing Maghrebia Vie’s financial indicators and its forecasts, Mourad Ben Chaabane, president of Mac SA, the stock market intermediary in charge of the operation, emphasized that “the strength of UFI Group, Maghrebia Vie’s parent group, is always to execute your business plan. Already now the title awakens real enthusiasm,” he said.
The operation involves:
- The realization of a division of the nominal value of the action to go from 10 DT to 1 DT;
- The increase in cash of the company’s share capital by 5,000,000 DT to raise it from 20,000,000 to 25,000,000 DT distributed over 25,000,000 shares;
- The introduction on the main market of the Tunis Stock Exchange will be through:
- The increase in cash of the company’s share capital of 5,000,000 DT reserved for new shareholders.
- Sale of 2,500,000 shares by former shareholders.
- The offered issue premium is 5,080 TND per newly issued share.
The opening of the capital is up to 30% through
- The sale of 2,500,000 shares, and
- Issuance of 5,000,000 new shares through a cash capital increase.
Introduction of intermediary is Mac SA.
Revenue: 93.2 million dinars (+18.68%)
Net profit: 12.6 million dinars (+37.14%)
Equity: 72.7 million dinars (+15.64%)
Return on equity: +20.94%
In 2021, ASSURANCES MAGHREBIA VIE was ranked:
- 1time life insurance company in terms of net income
- 1time life insurance company in terms of equity
- 2th life insurance company with respect to assets under management
Subscriptions to Maghreb’s capital Vie MAGHREBIA VIE is a pioneering life insurance company in Tunisia.
It is part of the MAGHREBIA Group, which started its activities in 1973 as a single-branch insurance company specializing in life insurance through its company ASSURANCES MAGHREBIA, before obtaining its multi-branch authorization in 1974.
ASSURANCES MAGHREBIA VIE offers a wide range of coverage for individuals, professionals and groups with life insurance, divided between savings products and pension products.