automobile reseau tunisien et services (artes) in the stock exchange market

 automobile reseau tunisien et services (artes) in the stock exchange market
 
 Renault and Nissan Tunisian importer opens its capital
through an attractive offer
 
 The largest capitalisation on the stock exchange, in the last 10 years
 16.33 Billion USD profits in 2006
 16.66 Billion USD of  dividend to distribute in 2007
  80 % of profits dedicated to distribution from 2008
 Zero Debts
 70.83 Billion USD Cash

 
With ARTES, importer of the two major international car brands Renault and Nissan and leader of the automobile distribution in Tunisia, Tunis Stock Exchange is preparing to host the largest Stock Market capitalism, on the 1st market, in the last 10 years.
 
In this context, ARTES disseminates to the public 30.18% of its shares at a fixed price of 8608.33 USD per share (all fees, commissions, brokerage and tax). The subscription period runs from March 17th, 2008 to March 28th, 2008.
 
The dissemination of securities is done through a Firm Offer Price (FOP) on 4125 900 shares (16.18% stake) and a Guaranteed Investment * (14%) reserved for foreign institutional investors.
 
In addition, and in the same price terms, a private placement with institutional non-resident foreigners (9.42% of capital), 39.60% of the total shares will be subject to the opening of the capital.
 
The transaction falls within the framework of the government’s efforts to encourage companies to penetrate the stock exchange, giving them the benefit of a tax rate of 20% instead of 30% for five years following Assignment of 30% or more of their capital. The introduction of ARTES has received the approval of the Board of Directors of the Tunis Stock Exchange on February 14th, and the visa of the Financial Market Council (CMF) on February 28th . ARTES is the largest capitalization on the stock exchange introduced 10 years ago with 219.16 Billion USD. It is at a level close to that of the Tunisian Bank (STB), the first bank in the country in terms of assets, and Attijari Bank.
 
A leader group in a growing sector and attractive profitability
 
 The ARTES, whose business is in new vehicles Renault and Nissan sales, spare parts and a network of after-sales services of these marks, is the market leader in Tunisian automotive market with a market share of 31% (2006), as far as personal cars are concerned and this, for the sixth consecutive year.
 
Between 2004 and late 2006, according to the financial analysis by FinaCorp, the global coordinator and sales book runner in charge of the operation (www.finacorp.net), its main indicators have experienced strong growth of 29 % for turnover, 40% for the margin, 54% for EBITDA, 86% for financial products, and 62% for net profit. In 2006, turnover amounted to 153 million dinars (Taxes included) and net profit at 15.4 million dinars.
 
The financial situation of ARTES is strong. It is widely surplus and is characterized by a net cash position of 59.8 million dinars (late 2006). During the period 2004-2006, debt in the medium and long term was equivalent to zero.
 
The prospects of the local market are based on an expected doubling of the penetration rate of personal vehicles would increase from 3.5 to 7.2 vehicles per 1000 inhabitants in a market structural surplus compared to the supply. In such a context, which will also be marked by the dismantling of import regulations, the assumption is that the Renault brand will retain its leading position and its market share over the next five years. As a result, and particularly in light of new investment in industrial equipment for the workshop and development of the showroom, the net result is expected to double between 2006 and 2011.
 
The shareholders of ARTES are brothers Mzoughi, Moncef and Sadok Mzabi each of them sells 13.2% stake, held at the rate of 39.6% by each of them so far, but keep the majority in the company.
 
 They are also the basis for development of Mzabi Group, one of the great pioneers of economic development in Tunisia with, a strong presence in various business sectors such as trade, industry, finance, real estate, hotels and services. The Mzabi Group is ranked among the top in Tunisia, and employs several thousand of people in the country. It is also operating in Algeria and Morocco.
 
Chairman and CEO of ARTES (ex-Renault Tunisia), Moncef Mzabi is also CEO of number of companies, a shareholder in a number of banks and financial institutions, a board member of the IBU-Société Général, the founders of several mixed chambers of Commerce and Industry with foreign countries, an active member of charities and has achieved several terms in the Economic and Social Council. M. Moncef Mzabi was honoured with several governmental decorations, and it is also Honorary Consul of Ireland in Tunisia.
 
It is he, who has taken on behalf of the group company Renault-Tunisia in 1997 in specific conditions to convert it in just a few years the market leader, and establish a solid financial model. He implements across the country a large network of after-sales service in the area with 26 distribution points and 3 technical centers for Renault and Nissan for six points. He modernized and restructured the company by creating three subsidiaries. The company Artegros is responsible for the import and wholesale of spare parts for Renault and Nissan brands. ADEV (Automobiles and Development) has been operational since 2006 and is responsible for retailing of Nissan vehicles, their spare parts and after-sales service. Autronic, created in 2000 with a foreign partner, manufactures electronic equipment, primarily for automotive and marketed abroad.
 
Hard-Worker, discreet, helpful and engaged in social activities, Moncef Mzabi has, over the years, built a network of relationships in the international business centres.