The Clap
The Saudi Public Investment Fund (PIF) is awaiting the FRA’s green light for the latter to subscribe to Egypt Aluminum’s (EGAL) capital increase.
Deets
Egypt Alum is moving forward with its $350 million capital increase, having sent the required paperwork to the FRA.
The PIF is aiming to subscribe to $200 million of the $350 million, given that the company’s general assembly & the FRA agree.
So what
If the deal goes through it would be the continuation of a recent string of investments made by the PIF in the Egyptian market.
Now what
The deal is expected to take place within the coming month.
