Subscription to Struggling Factories Restructuring Fund to Open Sunday at EGP 1 per Unit

Egypt’s Financial Regulatory Authority has approved the licensing of an investment fund for restructuring struggling factories, clearing the way for subscriptions to open next Sunday.

Investors will be able to subscribe to the fund’s units at a price of one Egyptian pound per unit.

The fund was licensed under number 1033. Its stated focus is the restructuring of factories facing financial difficulties.

The announcement did not provide further details on the subscription period or which factories would be targeted for restructuring.