ValU, a leader in Buy Now Pay Later solutions, is set to issue treasury bonds valued at EGP 800m next month, insiders told Daily News Egypt.
This follows a recent issuance earlier this week, which raised EGP 888m.
Thirteen financial institutions, predominantly investment funds along with several banks, fully subscribed to the latest issuance. Bank ABC Egypt contributed approximately 22.07%, amounting to EGP 196m. Arab African International Bank secured a 45% stake, equivalent to EGP 400m, while the National Bank of Kuwait – Egypt took a 7.88% share, totaling EGP 70m.
The Banque Misr Mutual Fund acquired a 5% stake with an investment of EGP 44.4m. The Commercial International Bank’s Money Market Fund subscribed to 13.88% of the bonds, investing EGP 123.26m. The Suez Canal Bank Money Market Fund (Al Suez Al youmi) committed to approximately 1.13%, or EGP 10m.
The Fawry Fund took a 3.55% share, investing EGP 31.5m, while the Civil Aviation Finance Holding Company’s Money Market Fund Sarwaty acquired 0.17%, worth EGP 1.5m. The Sarwa Life Insurance Money Market Fund covered 0.39% of the issuance, equivalent to EGP 3.5m.
The Misr Life Insurance Fund secured a 0.17% stake, valued at EGP 1.55m. The Allianz Life Insurance Fund’s share was 0.38%, worth an estimated EGP 3.35m. Lastly, the CI Asset Management Money Market Fund participated with an investment of EGP 2.9m, representing 0.33% of the total issuance.
