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Delta Insurance Contracts with Bank Audi over its New IPO Mutual Fund
Islam Abdelhameed Published in Amwal Al Ghad on 25 - 09 - 2014

The board of directors of Delta Insurance Company chairman El-Sayed El-Gohary revealed that his company contracted with bank Audi in order to receive underwriting of its new mutual fund that amounted to EGP100 million capital.
Speaking to Amwal Al Ghad on Thursday, El-Gohary added that under the contract, bank Audi will receive all the money of mutual fund policies as Alpha Capital Markets Plc will take over the board of fund.
The fund is the investment pool which provide cash liquidity through calculating the daily cumulative return, stressing that the company is waiting the approval of Egyptian Financial Supervisory Authority (EFSA) in order to start launch IPO fund, El-Gohary asserted.
Moreover, Delta Insurance is seeking to maximize the investment portfolio backed by EGP90 million as an increase.

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