FIMBank granted approval for 77 million share listing

FIMBank has been granted approval by the Malta Stock Exchange for the listing of up to 77,009,494 new ordinary shares in the company having a nominal value of USD0.50, which will be issued as a result of a rights issue to its shareholders.

Shareholders shall be entitled to subscribe to 16 new ordinary shares for every 41 ordinary shares in their possession at 65 cents USD.

If subscribed to in full at the offer price, the rights issue will raise gross proceeds of USD 50,056,171. Any lapsed rights from the rights issue will be offered to financial intermediaries.

Tunis International Bank S.A. (TIB) has, by means of an underwriting agreement, undertaken in favour of the bank to subscribe to such number of new ordinary shares under the rights issue not subscribed to during the intermediaries offer. The obligation of TIB under the underwriting agreement is limited to a maximum value of USD 5 million.