Cairo - Mubasher: The Financial Regulatory Authority (FRA) is currently reviewing a mandatory tender offer (MTO) request by Al Baraka Bank Egypt to acquire a majority stake in Al Tawfeek Leasing Company (A.T. LEASE).
The proposal seeks to acquire up to 329.47 million shares, representing up to 90% and a minimum of 51% of the company’s total share capital.
The acquisition will be executed through a share swap with no cash alternative, while A.T. LEASE shares will remain listed on the Egyptian Exchange (EGX).
Upon the extraordinary general meeting’s (EGM) approval, Al Baraka Bank Egypt will issue new shares to raise its capital for A.T. LEASE shareholders participating in the offer.
The exchange ratio is set at 0.19 new Al Baraka Egypt shares for each share of A.T. LEASE.
In 2025, Al Baraka Bank Egypt logged consolidated net profits after tax worth EGP 4 billion, compared with EGP 3 billion a year earlier.
Earlier in March 2026, the shareholders of A.T. LEASE approved cash dividends worth EGP 138.60 million for 2025.
