(Ecofin Agency) - The extraordinary general meeting of Tunisie Leasing & Factoring (T&F) decided to increase the company’s social capital by TND6.7 million (from TND45 million to [$15.4 million] to TND51.7 million [$17.6 million]).

This will be done by the issuance of 1.3 million new shares at TND15 each. These shares are prioritarily reserved for the company’s shareholders and will help the company boost its equity.  

The regulator of the Tunisian financial market has already approved the operation which will be organized from December 21, 2018, to February 1, 2019.

Let’s note that Tunisie Leasing & Factoring recently issued a subordinated bond of $7 million which could be raised to $10.5 million. The funds to be raised are also aimed at boosting the company’s equity to comply with banking regulations.

Chamberline Moko