Egypt's Sarwa Capital to float 40% of its capital in October

The main shareholder, Egyptian American Projects Fund, owns 72% of the capital


Sarwa Capital Holding seeks to launch 40 per cent of its capital share in the Egyptian Stock Exchange (EGX) in early October to collect about $120 million through increasing capital and partial exit of the main shareholder.

The main shareholder, Egyptian American Projects Fund, owns 72 per cent of the capital.

Hazem Moussa, the CEO of Sarwa Capital, said that the company aims to enter the Egyptian financial market to benefit from the current developments in the Egyptian financial market and to attract funds to help the company strengthen its capital base of affiliated companies.

The guarantor of the offering was done by Banque Misr, the Commercial International Bank (CIB), as well as the Arab African International Bank (AAIB), reported local newspaper, DailyNews Egypt.

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