The Tunisian Reinsurance Company (Tunis Re) has announced that it has completed raising its capital to TND200m ($66.7m), double the previous level of TND100m.
Following this capital increase, Tunis Re’s share capital comprises 40,000,000 registered shares with a nominal value of TND5 each.
The increase was effected via a bonus issue and a rights issue as follows:
- Capitalisation of reserves: TND25m was transferred from the “Share Premium” account, resulting in the creation of 5,000,000 new shares, each with a nominal value of TND5. These shares were distributed as bonus shares to existing shareholders and to purchasers of allocation rights on the stock exchange, at a ratio of one free new share for every four existing shares.
- Cash subscription: TND75m was raised through the issuance of 15,000,000 new shares, subscribed at a ratio of three new shares for every four existing shares, at an issue price of TND8 per share, comprising TND5 in nominal value and TND3 in share premium.
Shareholders approved the capital increase at an extraordinary general meeting held on 24 April 2026.
Tunis Re said in a statement, “This major milestone marks the beginning of a new phase in Tunis Re’s development. Building on its strengthened financial resources, the commitment of its teams and the renewed support of its shareholders, Tunis Re intends to pursue its growth momentum with determination, consolidate its market position and enhance its capacity to undertake business, in support of its strategic ambitions and sustainable value creation.”