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Naeem Holding starts private placement worth $55.7 mln for real estate fund

Wed 5th April, 2017 11:43am
CAIRO, April 5 (Reuters) - Egypt's Naeem Holding  NAHO.CA  
on Wednesday started a private placement for a real estate fund 
worth 1 billion Egyptian pounds ($55.71 million), the company's 
chief executive officer Yousef Al Far said at a news conference. 
    The private placement will take place for one month and will 
be followed by an initial public offering for the fund before 
the Muslim holy month of Ramadan, due to start at the end of 
May. 
 
($1 = 17.9500 Egyptian pounds) 
 
 (Reporting by Ehab Farouk; writing by Asma Alsharif. Editing by 
Jane Merriman) 
 ((asma.alsharif@thomsonreuters.com; +20225783290; Reuters 
Messaging: asma.alsharif.reuters.com@reuters.net)) 
 
Keywords: EGYPT NAEEM
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