Egypt’s Pharos seeks to launch $112.6mn direct equity fund

Egypt’s investment bank, Pharos Holding is planning to establish soon a direct equity fund in cooperation with some investors, its chairman Mohamed Taymour announced Sunday.

The capital of the anticipated fund will exceed one billion Egyptian pounds ($112.6 million), Taymour told Amwal Al Ghad on phone.

Pharos Holding for Financial Investments offers a wide range of financial services, including Investment Banking, Asset Management, Securities Brokerage, Online Trading, Research and Bookkeeping, all specializing in the Egyptian market.