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Pharos Holdings signs global agreement with Exotix Capital

Thu, Dec. 6, 2018
CAIRO – 6 December 2018: Pharos Holding for Financial Investments announced signing a major agreement with Exotix Capital, the global emerging markets investment bank, headquartered in London.

Pharos Holding clarified in a statement that this global agreement will allow Exotix clients from across the world, including many of the world's major institutional investors, to have access to Pharos research, as well as to the Egyptian market to trade and invest through Pharos Brokerage.

Pharos Holding will also work with Exotix and its other partners across the world to help offer research, produced on the ground in emerging markets, offering an increasingly important resource for fund managers to utilize the sophisticated Exotix technology to distribute Pharos research to global clients, according to the statement.

“This will include joint sectoral research from the network of investment banks which work with Exotix, as well as road shows for Pharos analysts, working with Exotix and its wider emerging markets investment banking partners' analysts,” it added.

According to the statement, the agreement is effective immediately and allows for Pharos' research to be distributed to several hundred additional global fund management firms.

CEO of Exotix Capital Duncan Wales commented: “This partnership builds on our existing relationship with Pharos Holding, allowing us to deliver an even more extensive service to our clients around the world and provide more of the valuable insights to support their investment decisions. As our network continues to add more and more high-quality partners like Pharos, Exotix Capital is uniquely placed to deliver superior local insight and actionable intelligence that simply is not available anywhere else.”
For his part, Group Chairman and CEO of Pharos Holding Elwy Taymour stated: "The global agreement with Exotix is an exciting step for Pharos as it plugs us into a very much larger network of global clients. This growing network should drive both Pharos and Exotix to increase our joint share of international investment flows. As Egypt's IPO program recommences in 2019, this relationship also offers the potential to increase the exposure of Egypt's capital markets to new institutional clients."

Pharos Holding Chief Operating Officer, Angus Blair, said that "This deeper relationship with Exotix should help to build a deeper and more sustainable strategy for long term growth for Pharos and for Exotix, as well as offering an increasingly attractive product offering to global investment institutions. We look forward to making this agreement flourish."

Early in 2018, Pharos and Exotix signed a "Chaperone Agreement" which is required to meet and trade with clients across the USA to trade in the Egyptian Market.
 
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