Banque Misr intends to bid for CI Capital shares

CAIRO – 8 February 2021: Banque Misr intends to submit a purchase offer on the shares of CI Capital for Financial Investments at a price of LE 4.7, The Egyptian Financial Regulatory Authority said Monday. 

The authority added, in a statement to the Egyptian Exchange (EGX), that the documents related to the purchase offer file are being prepared, in accordance with the provisions of Chapter 12 of the Executive Regulations of the Capital Market Law No. 95 of 1992.

EGX clarified that it was decided to re-deal on the securities as of 11:55 pm of today's trading session, corresponding to February 8, 2021, with the suspension of all offers and requests registered on the company's shares before publishing this announcement.

CI Capital Holding Company for Financial Investments achieved a net profit of LE 330.77 million during the first nine months of 2020, compared to profits of LE 381.06 million during the same period in 2019, taking into account the minority rights.

The company's revenues declined during the first nine months of 2020, to record LE 1.519 billion by the end of September, compared to LE 1.72 billion during the same period in 2019.

As for standalone results, the company's profits rose to reach LE 191.75 million by the end of September 2020, compared to LE 94.39 million during the same period in 2019.

CI Capital is an investment bank in Egypt with market-leading investment banking, securities brokerage, asset management and research franchises.