Carthage Cement prepares for IPO, Tunisia

Carthage Cement prepares for IPO, Tunisia
Published: 10 May 2010

During a meeting held on April 22, 2010, the Board of Directors of the Tunis Stock Exchange approved the listing of shares of the Carthage Cement company on the alternative investment market.

According to the Tunis Stock Exchange Website Tustex, Carthage Cement will increase its capital from 71, 680 million dinars to reach 142,680 million dinars in order to integrate the bourse. Nearly 49% of the company’s capital will be owned by new shareholders.

A guaranteed Placement mainly from institutional of 47,368,421 new shares through a capital increase in cash by Public Offerings of 1, 9 dinars per action, as well as a private placement is expected on 3,239,112 shares.

The cement plant, based in in Djebel Ressas (south of Tunis)  has a clinker capacity of 1, 76Mta.