BIAT Capital, a subsidiary of the BIAT group specializing in the stock market in Tunisia, announced on Wednesday June 23 that it had finalized its merger-absorption operation through the stock market intermediary, Tunisie Valeurs. On June 3, 2021, the institution obtained the approval of the Financial Market Council to validate this process.
In its press release, BIAT Capital informs that the extraordinary general meetings of BIAT Capital and Tunisie Valeurs, held respectively on June 17 and 18, 2021, approved the merger by absorption of BIAT Capital by Tunisie Valeurs. A merger which will be final and BIAT Capital will be absorbed from July 15, 2021.
To this end, and unless opposed before July 12, 2021, the portfolios of BIAT Capital clients will be automatically transferred to Tunisie Valeurs under the same pricing conditions as BIAT Capital. And there would be a cessation of any stock exchange transaction or UCITS subscriptions and redemptions at the level of BIAT Capital.
Founded in 1991, Tunisie Valeurs is a financial institution specializing in asset management, stock market intermediation, financial engineering and treasury securities. Backed by a network of 10 agencies and a team of 120 professionals, the company is today ranked among the largest operators in the market.