Cairo-Mubasher: Ehab Rashad, CEO of Mubasher International, said shareholders of the parent company approved to establish a holding company with authorised capital of EGP 100 million.

This is part of Mubasher's ambitious expansion plan, Rashad said.

He added that the new entity named 'Mubasher Holding for Financial Investments' will operate with EGP 10 million in issued capital.

A consultancy office was mandated to finalise the relevant approvals and licenses with the competent authorities in Egypt, the CEO said.