BNA Assurances Cleared for Direct Listing on Tunis Stock Exchange

TLDR
- The Board of Directors of the Tunis Stock Exchange approved the direct listing of BNA Assurances on the Main Market
- The listing will cover 87.39 million existing shares, each with a nominal value of 1 Tunisian dinar
- The listing is subject to final approval of the offering prospectus by Tunisia’s Capital Markets Authority (CMF)
On June 24, 2025, the Board of Directors of the Tunis Stock Exchange approved the direct listing of BNA Assurances on the Main Market. The listing will cover 87.39 million existing shares, each with a nominal value of 1 Tunisian dinar, with no capital increase involved. The transaction will be led by BNA Capitaux as the introducing broker.
The listing is subject to final approval of the offering prospectus by Tunisia’s Capital Markets Authority (CMF). Once approved, the exchange will publish the official listing notice and set the first trading date.
The move represents a new chapter for BNA Assurances, formerly known as AMI Assurances, which rebranded in 2024 after BNA Bank raised its stake to 50.5%. Founded in 2003, the insurer operates a network of 120 branches, making it a significant player in Tunisia’s insurance market.
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Points clés à retenir
The direct listing route—as opposed to a capital-raising IPO—allows existing shareholders to monetize shares while positioning the company for greater visibility, governance alignment, and future access to capital markets. It also introduces market-based price discovery from day one. With investor outreach now underway, including roadshows and information sessions, BNA Assurances is poised to attract a mix of institutional and retail interest. The listing is also expected to strengthen the Tunis Stock Exchange’s sector diversification, adding depth to its financial services segment. Once approved, BNA Assurances will join a growing group of publicly traded firms modernizing Tunisia’s financial sector and signaling renewed momentum in the country’s capital markets.

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