NI Capital initiates IPO of National Investment Charity Education Fund
CAIRO – 18 December 2019: Planning Minister Hala el Saaed announced on Thursday that NI Capital, a leading Egyptian financial services holding company, has initiated IPO of the National Investment Charity Education Fund; the first charity education fund of its kind in Egypt.
The IPO starts with at least LE 100 and has no upper limit, the Planning Ministry said in a statement on Wednesday.
Saaed said that the National Investment Charity Education Fund is an investment vehicle established to create sustainable support to efforts aimed at enhancing the quality of the education system and shore up the education reform program currently being implemented by the Education Ministry; ultimately transforming the youth for a better future, the statement said.
NI Capital is the investment manager of the fund. The fund aims to mobilize resources and inspire local and international communities to invest in education for sustainable economic, social and environmental development.