Misr Capital, Sarwa Capital’s fund oversubscribed 3 times

SourceZawya
SectorFinancial Markets
CountryEgypt

ArabFinance: Sarwa Capital Holding for Financial Investments (SRWA) and Misr Capital Investment, the investment arm of Banque Misr, announced oversubscription of their Sarwa Life Insurance Money Market Fund (Sarwa Life Insurance MMF fund) by three times with EGP 298.03 million, according to a press release.The subscription will be closed within 10 days, and this is the minimum period for legal subscription that started on Wednesday, February 3rd.The fund, which has an accumulative daily return, will be managed by Sarwa Capital and Misr Capital, with an initial volume of EGP 100 million.Sarwa Capital offers financial solutions such as auto credit, insurance, and consumer finance. The group also helps and structures debt transactions for companies that need to access debt capital markets to fund growth, manage risk, improve financial standing, and raise liquidity.Misr Capital is the investment arm of Banque Misr. It has a paid-in capital of EGP 4.2 billion and investments worth EGP 12 billion, consisting of equity participation in a number of industrial and real estate companies, in addition to a leading commercial bank.Copyright © 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc.

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