Arab Finance: The extraordinary general meeting (EGM) of Al Tawfeek Leasing Company (A.T.LEASE) (ATLC) approved the board of directors’ proposal on raising the authorized capital as well as the issued and paid-up capital, according to a statement filed to the Egyptian Exchange (EGX) on September 7^th.

As per the proposal, the company’s authorized capital would increase to EGP 1 billion from EGP 400 million.

Moreover, the issued and paid-up capital would be raised to EGP 437.329 million from EGP 287.329 million by EGP 150 million distributed over 60 million shares at a par value of EGP 2.5 per share.

AT LEASE is an Egypt-based Islamic sharia-compliant leasing company, which provides a variety of international leasing solutions and products. The company offers its products under the following categories: financial lease/capital, true ease, structured lease, and vendor lease.

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