Arab Finance: Al Tawfeek Leasing Company’s (A.T. Lease) extraordinary general meeting (EGM) greenlit the board’s proposal to increase the authorized capital to EGP 4 billion from EGP 1 billion, as per a bourse filing.
The shareholders also approved raising the issued and paid-up capital to EGP 1 billion from EGP 558.674 million.
In this regard, the EGX-listed firm will increase its capital by EGP 441.325 million distributed over 176.530 million shares, with a nominal value of EGP 2.50 per share.
A.T. Lease’s consolidated net profits attributable to the shareholders jumped by 26.46% to EGP 216.148 million in 2024 from EGP 170.912 million in 2023.