Arab Finance: Al Tawfeek Leasing Company’s (A.T.LEASE) (ATLC) announced that the second phase of its rights issue subscription was oversubscribed by 21,645%, according to a filing to the Egyptian Exchange (EGX) on Wednesday.
The second phase included 532,122 shares that were fully subscribed.
Thus, the company’s rights issue of 60 million shares was totally covered.
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.