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Reading: CI Capital intends to list 43.6% of its capital on EGX
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Dailynewsegypt > Blog > Business > Stock Market > CI Capital intends to list 43.6% of its capital on EGX
Stock Market

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

Daily News Egypt
Last updated: 2018/03/15 at 4:15 PM
By Daily News Egypt 1 Min Read
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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.

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TAGGED: CI Capital, EGX
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