Ahly United Bank (AUB) started public offering of the “wealth mutual fund” in the fixed-income instruments for the short-and-medium terms.
Sources from the AUB assured that the bank assigned the management of the fund to Cairo Financial Management Company, which will start the public offering tomorrow, for 15 days.
It is assured also that the capital value of the fund is EGP 100 million, and will increase to EGP 250 million or more during the 15 days. The nominal value of the certificate is EGP 100 at least for the initial public offering, to be about 30 certificates.
AUB got an approval from the Central Bank of Egypt and awaiting an approval from the Egyptian Financial Supervisory Authority to file another mutual fund whose capital value is EGP 25 million in the securities investment.