ArabFinance: Egyptian Financial Supervisory Authority (EFSA) approved on December 14, publishing offering prospectus Arab Moltaqa Investment Company's (AMIA) subsidiary, Al Tawfeek Leasing Company - A.T.LEASE's (ATLC) shares at maximum 19,200,000 shares, representing 24% of the Company's shares by offering in subordinated market (Public market, Private market).

Moreover, the total shares of Al Tawfeek Co. are 80 million shares with LE6.93 per shares. The fair value of Al Tawfeek Leasing Company's stock is amounting to LE6.93 per share, according to independent financial advisor's report.

The offering shares will be offered in two tranches; public offering of 4,800,000 shares, representing 25% of the offered shares and 6% of issued and paid capital, private offering for institutions and person with financial solvency of 14,400,000 shares, representing 75% of the offered shares and 18% of issued and paid capital. 

Pharos Company is the manager of the offering as well as Al Tawfeek Leasing's brokerage company. As the subscription will be opened on December 19, 2017, till December 24, 2017, at the maximum price per share is LE6.93.

The fair value of Al Tawfeek Leasing Company's stock is amounting to LE6.93 per share, according to independent financial advisor's report.

It is worth to mention, Al Tawfeek Leasing has been established on April 26, 2005, an Egyptian joint company according to act no. 8 of 1997. The company purpose is leasing, encompassing the activities in article no. 2 from act 95 of 1995, regarding leasing activity and its terms. 

The Company's authorized capital is amounting to LE400, while the issued and paid capital is amounting to LE200 distributed as follows; 89.9995% Arab Moltaka, 10% Bank Baraka (SAUD), 0.0005% Al Tawfeek Development House Holding. 

Al Tawfeek Leasing has commenced it's actual work on October 09, 2006, targeting to top financial foundation for leasing in Egyptian market, moreover, the company revenues ending September 30, 2017, is amounting to LE480 million, with growth rate reach 45% for the same period in 2016. 

The net profits for the fiscal period ending September 30, 2017, of LE43.4 million, with 55% growth for the same period last year.

The Company added in statement sent to Egyptian Stock Exchange (EGX), it is considered a leading company in Egyptian market, as the concluded contracts since its establishment by end of 2016, reaching 10.8% of leasing market, according to EFSA's reports.