Odin targets EGP 200 mn first close for joint fund with Kasb

OdinInvestments is targeting a EGP 200 mn first close for its EGP 500 mn joint equity fund with Saudi’s Kasb Capital by the end of this year, Odin’s CEO Hashem El Sayed told Al Mal. The fund was originally scheduled to launch last September, but the process was delayed due to protracted negotiations with the government and the Financial Regulatory Authority, Odin’s senior financial analyst Karim Hashem told Enterprise. It has now been listed on the EGX, and will be open for public subscription before the end of the year, he said. Odin and Kasb — which control 55% and 45% stakes respectively — have put in EGP 20 mn in initial capital, he added.