The Egyptian Exchange announced on Sunday the sale of 74.75% of CI Capital Holding’s shares, affiliated to the Commercial International Bank (CIB), at EGP 710.158m. The EGX announced that 17 businesspeople have purchased 65% of CI Capital, in addition to another share sold to a group of executive directors of CI Capital. Mahmoud Attallah, CEO of CI Capital Holding, said that the company will hold its general assembly on 9 April, where they will form a new board of directors of the company and announce the new expansion plan. He told Daily News Egypt that CI Capital prepares for new acquisitions and deals in the coming period, in the framework of the company’s local and regional expansions plan. Attallah revealed that CI Capital will offer its shares on the stock market within this year, as well as increase its capital to finance expansion plans and enter new markets.

Source: Daily News Egypt March 20, 2017 14:37 UTC