BNA Assurances Denies Rumors of Strategic Partnership with Foreign Insurer Ahead of IPO
As BNA Assurances prepares to go public, rumors have been circulating about a potential strategic partnership with a foreign insurance group. This information, if true, could alter the company's prospects and impact the agreement in principle granted by the Tunis Stock Exchange's board of directors.
In response to these rumors, the Financial Market Council has requested that BNA Assurances confirm or deny the information to ensure transparency with investors and shareholders.
The company has issued a statement declaring that "these rumors are unfounded and do not reflect any real or ongoing approach or project on our part. To date, no negotiations or strategic partnership with foreign insurers are engaged or envisioned by our company."
Furthermore, in a spirit of transparency towards Tunis Stock Exchange stakeholders, the insurer has reiterated its commitment to officially communicate any significant information that could impact the stock price.
BNA Assurances' stock is currently traded over-the-counter on the Tunis Stock Exchange. Since the beginning of the year, it has surged by 34.69% and closed last week at 3,300 TND. As a reminder, the IPO will proceed through a direct listing procedure. Given that BNA Assurances' capital is already sufficiently dispersed among the public, the Stock Exchange can proceed with its direct listing on the main market, effective from the introduction price set. Although the introduction price has not been disclosed yet, investors believe that the current price remains lower than the retained valuation.
