ion.Investment PolicyThe Company invests primarily in securities of companies that are established or doing a substantial part of their business in Egypt or which are listed on the ESE. The Company seeks to acquire a prudently diversified investment portfolio in terms of exposure to any one issuer or group and in terms of exposure to any particular economic sector. The Egyptian equity securities in which the Company invests consist predominantly of common stock and preferred stock of Egyptian issuers, although the Company may also invest in convertible securities, options and warrants of Egyptian issuers if they are available. The Company does not invest in securities of start-up companies, other than in connection with privatizations.The Company also invests in securities of companies that are being privatized by the Egyptian Government or divested by public sector enterprises. The Directors believe that these privatizations will have two significant results: a shift of management from government and public sector control to the private sector and the opening up to development of certain strategic economic sectors. Each privatization transaction is subject to its particular political and economic factors, which may vary the terms upon which investors, such as the Company, may participate.Subject to the investment restrictions referred to below, the Company is allowed to invest in unlisted securities but will only do so if the Manager holds an expectation that the relevant securities will be listed within one year of the relevant investment.The Company's primary focus is on Egyptian issuers of above average size in terms of the market capitalization, although the Company reserves the right to invest its assets in the securities of issuers with smaller market capitalization's (companies with an average market capitalization currently being, for these purposes, companies having a market capitalization of approximately US$275 million). Nei...
