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Wednesday, 5 September 2018

Pharos Holdings to expand into fintech into 2019, eyes financial leasing, new IPOs

Pharos Holdings is looking to expand into fintech into 2019, eyes financial leasing: Our friends at Pharos Holding expect to launch a microfinance arm in 1Q2019 in, Managing Director Alaa Afifi said yesterday, saying the firm expects to hold a majority stake in the venture. The launch is part of the firm’s expansion plans, which may also see it venture into financial leasing, according to Afifi. No further details were provided.

Pharos has a transaction pipeline worth north of EGP 7 bn and is in talks with seven private sector companies to potentially run their initial public offerings, he added, without elaborating. The firm has also made a bid to manage the sale of additional stake from state-owned companies on the EGX under the government’s privatization program. The firm expects to soon close its first M&A mandate in Dubai, he said, less than a year after Pharos opened its UAE office.

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