Arab Finance: The extraordinary general meeting (EGM) of International Company for Leasing (Incolease) approved increasing the authorized capital to EGP 1 billion from EGP 500 million, according to a bourse filing.

The shareholders also greenlighted raising the issued and paid-up capital to EGP 507.779 million from EGP 200 million.

Moreover, the company will undertake a multi-issue securitization process not exceeding EGP 10 billion for three years, with the first issuance to be within the amount of EGP 2 billion.

Established in 1997, the company leases a range of assets, including commercial vehicles, machinery, information technology equipment (hardware and software), production lines, real estate, and other tangible and intangible long-term assets.

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