ArabFinance: Nassef Sawiris investment firm NNS Holding raised its stake in Signature Aviation to 7.41% from 7.16%, according to a disclosure to the London Stock Exchange.

Sawiris purchased more than 2.14 million shares at $5.47 (EGP 85.65) per each, investing almost $11.7 million (EGP 183.20 million) in the company, the filing highlighted.

Avanti Acquisition Corporation, a special purpose acquisition firm of Egyptian billionaire Nassef Sawiris, earlier announced the pricing of its upsized initial public offering at $600 million (EGP 9.4 billion).

*At press time, the conversion rate is $1 = EGP 15.67

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