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Wednesday, 18 September 2019

Rebranded Egyptians Abroad Co Odin obtains investment fund license from FRA

Odin Investments has obtained a license from the Financial Regulatory Authority (FRA) to set up and manage investment funds, the company said in an EGX disclosure (pdf). Odin is planning to launch next year a logistics sector focused fund, we noted in June — back when the company was named the Egyptians Abroad Investment and Development. The FRA licensed the firm — which operates investment banking, private equity, asset management, and venture capital departments — under regulations passed in May last year. The regulations allowed banks and several types of non-banking financial service firms to set up any type of investment fund apart from real estate independently or with local, regional, or international partners.

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