Arab Finance: Al Tawfeek Leasing Company’s (A.T.LEASE) (ATLC) announced that the first phase of its rights issue was subscribed at a coverage ratio of 99.11%, according to a filing to the Egyptian Exchange (EGX) on November 3rd.

Shareholders subscribed to 59.468 million shares at a total value of EGP 148.667 million.

The second phase of the rights issue will be open for subscription on 532,122 shares soon.

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.