The Egyptian investment bank Zilla Capital will establish an investment portfolio management firm in Saudi Arabia, in partnership with a Saudi financial institution, Zilla Capital’s CEO Moustafa El-Shenety said in an interview with Asharq Business.

The new firm targets luring $300 million in investments to be managed via the portfolios by the end of the current year, El-Shenety said.

The company also seeks to invest in the Arab, European, and American markets, El-Shenety noted, expecting the firm’s operations to kick off within the coming two months.

He added that the company is currently managing 23 merger and acquisition (M&A) deals, including five ones in the UAE and Saudi Arabia, via Zilla Capital. The total value of the deals is $2 billion, $1.2 billion of which is associated with deals in the Gulf countries.

Moreover, El-Shenety expects the execution of around eight M&A deals by the end of 2024.

As for the non-banking financing activity, the new company is currently raising its capital from EGP 75 million to EGP 150 million, he said, pointing out that this move aims to grow its investment portfolio to EGP 1 billion by the end of 2024 and EGP 2 billion by the end of 2025.

 

© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).