PIF’s Egyptian investment arm set to acquire shares in education-focused Social Impact Capital

PIF’s Egyptian investment arm set to acquire shares in education-focused Social Impact Capital

RIYADH: Egypt’s Social Impact Capital is set to receive a significant financial boost as it announced a conditional agreement with the Saudi Egyptian Investment Co.  

Under the terms of the deal, SEIC will subscribe for new shares in SIC, the principal shareholder of CIRA Education, which is listed on the Egyptian Stock Exchange. 

This financial arrangement is designed to facilitate SIC’s acquisition of additional shares in CIRA, potentially increasing SIC’s total shareholding to between 75 percent and 100 percent at a price of 14 Egyptian pounds ($0.29) per share.   PIF’s Egyptian investment arm set to acquire shares in education-focused Social Impact Capital