Cairo – Mubasher: CI Capital Holding is expected to offer a 43.6% stake of its capital in the second quarter of 2018 at a total value of EGP 100 million ($1.8 billion).

The Egyptian investment bank is considering to allocate 10% of the stake for public subscription, while the remaining stake will be earmarked to institutional and financial investors through a private offering, sources familiar with the matter told Almal News.  

The leading diversified financial services group has selected Pharos Holding and HC Securities and Investment to evenly market around 20% of the private offering, sources added.

They emphasised that CI Capital and the US investment bank Jefferies Group will manage marketing for the rest of shares.

London-based Norton Rose Fulbright has been chosen as the company’s international legal advisor, while White & Case LLP International Law Firm is the company’s legal advisor to cover the IPO.

The independent law firm Matouk Bassiouny will act as CI Capital’s local advisor, while both Pharos and HC Securities are currently working as the company’s IPO agents.

On 15 March, CI Capital unveiled plans to float a 43.6% stake, or 246.9 million shares, of its capital on the Egyptian Exchange (EGX).