Egypt’s Pharos Holding eyes new equity fund launch

Big 5

Cairo-based investment bank Pharos Holding is planning to launch a new equity fund within the next few months, chairman Mohamed Taymour announced Sunday.

The capital of the new fund will be worth more than 1 billion Egyptian pounds ($53.1 million) Taymour said.

“We are currently studying the current market situation so as to determine the appropriate time to launch the fund,” Taymour told Amwal Al Ghad.

The new fund will be with the participation of a number of foreign investors keen to benefit from the current available investment opportunities in the Egyptian market, he added.