Arab Finance: The Financial Regulatory Authority (FRA) has approved the establishment of Catalyst Partners, Egypt’s first special purpose acquisition (SPAC) venture capital company, with an initial capital of EGP 10 million, according to a statement from the FRA.

The company is required to list its shares on the Egyptian Exchange (EGX) within one month and increase its capital to EGP 100 million within three months through a private subscription limited to qualified investors and financial institutions.

Catalyst Partners is also committed to completing the acquisition of companies within two years from the date of its listing.

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