TAWASOA for Factoring obtains EGM’s nod for EGP 40M capital raise

The extraordinary general meeting (EGM) of TAWASOA for Factoring approved increasing the issued and paid-up capital to EGP 115 million from EGP 75 million, according to a bourse filing.

TAWASOA for Factoring will issue 40 million shares, at a nominal value of EGP 1 per share, through the issuance 40 million shares.

The board members recommended the EGP 40 million capital raise last December.