(Ecofin Agency) - Cerealis, one of Tunisia’s major salty snack producers did not renew its liquidity contract with Axis Capital on the Tunis Stock Exchange.

It should be recalled that a liquidity contract is an agreement through which, a listed company provides a stock exchange intermediate, liquidities and part of its shares, in return for the intermediate acting as a buyer or a seller of the company’s shares when market shares is troubled.

No detail was given as to why the contract was not renewed despite it coming to an end. However, observing Cerealis’ evolution in the market, we can see that its shares kept losing value throughout the past 12 months. On Monday February 8, they were trading at 3.2 dinars each, thus showing a fall of about 51%. 

The company’s progression on the market is thus to closely follow. For 2015, it recorded a 4.4% growth in revenues reaching 9.26 million dinars against 8.87 million at the end of December 2014. According to the firm’s management, the growth is due to the improvement of distribution quality all over the nation and also to the consolidation of market shares.    

Idriss Linge