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CI Capital to raise CorpLease capital by EGP500m

CI Capital to raise CorpLease capital by EGP500m
Photo Credit: Company Website
CIB
COMI
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By: Ahmed Allam

Mubasher: The CEO of CI Capital said on Sunday that his company targets raising the capital of its corporate leasing subsidiary company (CorpLease) by EGP 500 million through two phases.

Mahmoud Attalla added on the sidelines of a press conference on Sunday that the first capital hike will be by EGP 100 million, followed by another capital increase by EGP 400 million.

After raising the company’s capital, the shareholders rights will grow to EGP 1 billion, he indicated.

The company also plans to increase its assets under management (AUM) portfolio by 25% in 2017.

In March, the Commercial International Bank – Egypt (CIB) announced selling 74.75% of its stake in its subsidiary CI Capital Holding for EGP 710.158 million.

The bank retained a minority stake of 25.24% of CI Capital Holding.

Translated by: Moslem Ali