Driven in part by the continued growth of the firm across the region, which has seen expansion into the UAE, Saudi Arabia and Qatar over the last three years, the new building – which is being developed within Smart Village in Cairo – will have a 4000sq/m footprint and the capacity to hold approximately 900 of the group’s staff.
Originally launched with a cap of LE100m, the fund has been oversubscribed to the amount of LE152,835,800, taking advantage of EFG Hermes’ regional expertise in Fund management, along with the Principal Bank for Development and Agricultural Credit’s high level of distribution throughout Egypt.
Bank Audi SAL announces that it is holding exploratory discussions with EFG Hermes Holdings SAE regarding a possible combination of the two institutions which, if it takes place, may generate significant commercial and financial synergies.
EFG Hermes, today launched its latest product, the EFG Hermes Saudi Arabia Equity Fund, providing investors with an opportunity to access the Middle East’s largest market. Actively managed by EFG Hermes’ Riyadh-based Asset Management Team, the Saudi Arabia Equity Fund aims to replicate the success and track record of EFG Hermes’ other regional funds. This Fund has been launched with the authority of the Saudi Arabia Capital Markets Authority, and has an anticipated launch date of March 2008.
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