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Azimut Egypt’s new fund oversubscribed 6 times

Azimut Egypt’s new fund oversubscribed 6 times

ArabFinance: Azimut Egypt Asset Management’s new Egypt-focused fixed-income fund AZ-Savings was oversubscribed by six times during its nine-day private placement that ended on October 21st, Al Mal News reported on October 26th.

The Italy-based entity secured EGP 295.3 million from more than 100 investors. This led the company to raise the fund’s ceiling to EGP 500 million before the end of the subscription period, the news portal cited a press statement.

AZ-Savings’ initial investment target was not disclosed.

Azimut Egypt reportedly launched its AZ-Savings through a private placement earlier this month

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