Cairo – Mubasher: CI Capital plans to sell its shares on the Egyptian Exchange (EGX) in an initial public offering (IPO) in the second half of 2018, CEO Mahmoud Atallah told Alborsa News.

Atallah forecast the IPO to be launched on the EGX in Q1-18.

He noted that CI Capital’s acquisition of Gemini Egypt Holding for Financial Investments, a subsidiary of Microfinance Enterprise Services (Reefy) owned by Naguib Sawiris, would be completed within a month.

This acquisition aims at adding microfinance activities to the company’s non-banking financial sector, he continued.

The company is currently considering to enter the consumer financial sector and looking forward to managing two IPO in the sector over the next year, he mentioned.

Assets managed by CI Capital increased to EGP 7.4 billion at the end of the third quarter of 2017.