Egypt: CI Capital plans to increase its portfolio to $558 million
CI Capital, Egypt’s leading provider of investment banking, is planning to increase the volume of its portfolio under management to LE10 billion ($558.2 million) by March 2019.
"We are looking to stimulate and boost our assets under management by initiating a series of negotiations with some local and foreign investors so as to manage their portfolio”, Amr Abol-Enein, CI Capital’s managing director said.
Apart from strengthening its portfolio, this group which is also operating in New York and in Dubai is planning to buy shares from some Egyptian insurance companies.
To prepare itself for this operation, it recently increased its equity to LE1 billion by issuing 132 million additional shares. In a press release, the CI Capital’s manager indicated that the fund raised will help it invest in non-banking sectors and growth companies.
Source: Ecofin Agency