Mubasher: AT Lease is an attractive and very rewarding investment opportunity that provides unique exposure to the growing leasing industry, according to a recent report by Okaz Stockbrokers and Investments.
This is attributed to the underpenetrated nature of the industry and robust performance of AT Lease that is showing high growth potential, especially as the fast growth expected for the company makes its share a growth stock that at the same time has a 100% pay-out ratio like a yield stock, the research firm said in a recent report.
AT Lease is offering a maximum of 24% of the company’s shares through a private placement and a public offering in the Egyptian Exchange (EGX).
The company is offering 19.2 million shares currently owned by the selling shareholders out of which 14.4 million shares, or nearly 75% of the offered shares and 18% of the company’s issued capital, are being offered to institutions and high net worth individuals through a private placement while the remaining 4.8 million shares, 25% of the offered shares and 6% of the company’s issued capital, are being offered to retail investors through a public offering.
The private placement has a minimum subscription of 100,000 shares without a maximum subscription limit.
Meanwhile, the public offering has a minimum subscription of 25 shares and a maximum subscription of 100,000 shares.
AT Lease recently announced the indicative offer price range between EGP 6.12 to 6.93 per share.
The public offering subscription period is between Tuesday 19 December and Sunday 24 December 2017 with trading expected to commence on or around Thursday 28 December.
