Cairo – Mubasher: The Financial Regulatory Authority (FRA) in Egypt has approved in principle the publication of Al Tawfeek for Financial Lease’s (AT Lease) invitation to senior shareholders for subscription in the company's capital hike.

The EGX-listed firm will raise its issued capital by EGP 150 million to EGP 437.32 million from EGP 287.32 million, according to a stock exchange statement on Wednesday.

The capital increase will be distributed over 60 million ordinary shares at a nominal value of EGP 2.50 per share.

On 5 September 2022, the company’s extraordinary general meeting (EGM) approved the board’s recommendation to raise the authorised capital to EGP 1 billion from EGP 400 million and increase the issued and paid-up capital by EGP 150 million to EGP 437.32 million.