CIRF, Rasmala Securities halt evaluations bidding to manage Egypt Post portfo

Cairo Development and Investment (CIRF) and Rasmala Securities have received the top technical evaluations within the tender put forward by Egypt Post to contract with six investment management companies to manage the Egypt Post’s portfolio in the stock exchange.

Eighteen companies submitted to the tender, of which 12 were rejected because they did not meet the technical standard of 90% set by the Investment Committee of the Egypt Post.

CIRF and Rasmala Securities both had a technical standard of 93.5% each, while HC and Prime stood at 93.1%. Hermes and Alpha came in to round off the list with 93.04% and 93% respectively.

CI Asset Management or Pharos were noticeably missing from the list of eligible companies for the tender.