Tunisian banks invest €26 million to save Carthage Cement
The pool of banks, which are Carthage Cement’s primary creditors, accepted to contribute a maximum of 80 million Tunisian dinars (€26 million) to the company’s 223.8 million dinar (€71.7 million) share capital increase in the event the company is unable to raise the entire amount on the stock market.
18/02/2020 at 15h42, by Africa Business+
Adel Grar, who is Al-Karama Holding’s CEO and in charge of assets seized after the country’s revolution, has already ensured Jeune Afrique Business+ that the transaction, which should be completed on 28 February, would be a success. New shares will be issued at a price of 1.2 dinars each with preferential subscription rights for existing shareholders to purchase 13 new shares for every ten shares already held.
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