KarmSolar to raise EGP 500 mn for expansion plans, contracts Attijari as advisor

KarmSolar is looking to raise EGP 500 mn of equity to finance the completion of its pipeline private solar power stations, according to an emailed statement (pdf). The energy company has contracted Attijari Finances to act as its global advisor and coordinator for the fundraising process. Under the agreement, “the investment bank will assist KarmSolar in the due diligence, valuation, marketing material preparation, and the identification and selection of equity partners.”