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RIYADH: Saudi Arabia’s Public Investment Fund has participated in the private placement of Egypt’s Macro Capital, which was 1.8 times covered, the company’s chairman told Asharq. The Cairo-based medical cosmetics manufacturer currently holds 23 percent of the Egyptian pharmaceutical sector, Ahmed El Nayeb said. In its private offering, Macro Group raised 251 million shares on
RIYADH: Egyptian investment bank EFG Hermes said it expects more investments by the Saudi and UAE’s sovereign wealth funds in the Egyptian market. “The UAE sovereign fund is constantly looking at opportunities in the Egyptian market,” co-chair of promotion and IPO coverage sector at EFG Hermes earlier told Daily News Egypt. “There are direct cash flows from Gulf and foreign