Tawse'a for Factoring Boosts Capital and Secures Flexible Funding for Growth

Tawse'a for Factoring's Extraordinary General Assembly has approved an increase in the company's issued and paid-up capital from 75 million Egyptian Pounds to 115 million Egyptian Pounds. This move aims to boost the company's financial solvency and support its expansion plans. The company clarified in a disclosure to the Egyptian Exchange today, Thursday, that the cash increase of 40 million Egyptian Pounds will be implemented by issuing 40 million shares, each with a nominal value of one Egyptian Pound. Priority for subscription will be given to existing shareholders, and the trading of rights will be executed separately from the original share. The General Assembly also endorsed the reasons and justifications for this increase, which are to strengthen the capital base to keep pace with business growth and enhance the ability to navigate financial challenges in the market.