Arab Finance: The Financial Regulatory Authority (FRA) approved in principle Al Tawfeek Leasing Company’s (A.T.LEASE) (ATLC) proposal on raising the issued and paid-up capital to EGP 437.33 million from EGP 287.32 million, according to a statement filed to the Egyptian Exchange (EGX) on September 14^th.

The capital increase amounts to EGP 150 million distributed over 60 million shares at a value of EGP 2.5 per share.

Accordingly, senior shareholders will be invited to subscribe to the capital increase.

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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