Daily News Egypt

CI Capital intends to list 43.6% of its capital on EGX - Daily News Egypt

Advertising Area



Advertising Area




CI Capital intends to list 43.6% of its capital on EGX

CI Capital announced on a press statement on Thursday that it plans to list a 43.6% stake of its capital, which is equivalent to 246.9m shares on the Egyptian Exchange (EGX) through an initial public offering (IPO) in the second quarter (Q2)of 2018. Furthermore, the offering will consist of a secondary sale of shares by …


CI Capital announced on a press statement on Thursday that it plans to list a 43.6% stake of its capital, which is equivalent to 246.9m shares on the Egyptian Exchange (EGX) through an initial public offering (IPO) in the second quarter (Q2)of 2018.

Furthermore, the offering will consist of a secondary sale of shares by the current shareholders of Ci Capital, followed by using a portion of the proceeds to subscribe a capital increase of up to EGP 1bn( $56.85m) in the newly issued shares.

The statement highlighted that The IPO will be divided into an international offering to global and local institutional investors in countries including Egypt and a retail offering.

The proceeds of the offering will be used to expand existing activities, enter new fields, enhance the balance sheet and finance the company’s general purposes, according to the statement.

CI Capital is currently in the process of obtaining the regulators’ approvals for the offering, the statement added.

CI Capital’s revenues reached EGP1.85 bn in 2017 and net profit attributable to shareholders was EGP251m, up 144% and 104% respectively.

Topics: CI Capital EGX

Advertising Area

Advertising Area



https://www.dailynewsegypt.com/2018/03/15/ci-capital-intends-list-43-6-capital-egx/
Breaking News

No current breaking news

Daily News Egypt Android App Available for free download on Google play
View
Daily News Egypt Ios App Available for free download on APP Store
View