Expansion of faction announces the approval of the shareholders to increase the capital to promote growth and strategic expansion after the approval of the ordinary and extraordinary assembly
Tawasoa for Factoring announced the approval of shareholders to increase the company's issued and paid-up capital from an amount of EGP 75,000,000 to EGP 115,000,000, a cash increase of EGP 40,000,000, following the meetings of the Ordinary General Assembly and the Extraordinary General Assembly last Thursday, February 5, 2026. This step comes after studying the reasons and justifications for the capital increase and that it is in line with the company's strategy and plans to support the expansion and enhance its financing capacity.
Hussein Sedki, Co-Founder and Chief Operating Officer of Tawseen Mash, said: “The company continues to follow the plan it has announced since the offering, reflecting the management's commitment to achieving its targets and ability to fulfill its commitments. Increasing the exported and paid-up capital is an integrated financial instrument to support stability and accelerate the pace of the company's strategic growth, and confirms the continuation of its plan towards a deliberate and sustainable expansion in the next phase.
The members of the Ordinary Assembly agreed to grant Taweed Factoring Company the right to borrow from Tawad Holding Company, according to fair conditions and compatible with market prices, and at an interest rate equal to the overnight lending rate announced by the Central Bank of Egypt plus a margin of (2%), while noting that the value of credit facilities has not been determined to date.
During the extraordinary general assembly meeting, the shareholders and members of the association agreed that the increase would be through the issuance of 40 million shares with a nominal value of EGP 1 per share, each in proportion to its contribution to the capital, with the implementation of the right to subscribe to the increase separately from the original share. The company's old shareholders are entitled to subscribe to the increase each in proportion to their contribution to the capital or to sell all or part of the subscription right separately from the original share.
The Extraordinary General Assembly agreed that the subscription may be closed if the full subscription value is covered. In the event that the subscription is not covered, the subscription door will be reopened again (second phase) in the shares in which it was not subscribed under a timely announcement, provided that the subscription is carried out in the second phase without complying with the percentages of contribution to the capital, after the approval of the Financial Supervisory Authority and coordination with the Egyptian Company for Clearing, Depository, Central Registration and the Egyptian Stock Exchange.
Furthermore, the Extraordinary General Assembly approved the authorization of the Chairman of the Board of Directors or the Managing Director individually to take all necessary measures related to the capital increase, including inviting the former shareholders to subscribe, registering and trading the right of subscription, and representing the company before the Financial Supervisory Authority, the Egyptian Clearing and Depository Company, the Central Exchange. It also agreed to amend Articles (6) and (7) of the Company's Articles of Association in accordance with the results of the subscription.