Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved a request to increase the capital of Al Tawfeek for Financial Lease (AT Lease) EGP 287.329 million from EGP 234.4 million.

The company’s capital will be raised by EGP 52.929 million to be financed from the company’s earnings in 2019 through the issuance of 0.2258 share for every share held, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

It is noteworthy that for the full-year 2019, AT Lease’s net profits fell to EGP 67.15 million from EGP 69.79 million in 2018.