Cairo – Mubasher: Banque Misr has raised its stake in CI Capital Holding For Financial Investments to 6.22% from 2.42%, according a statement to the Egyptian Exchange (EGX) on Sunday.

The bank purchased 30.42 million shares for EGP 134.07 million at an average price of EGP 4.41 per share.

In a separate disclosure, CI Capital denied news reports that Banque Misr submitted a request to the Financial Regulatory Authority to acquire a minority stake in the company.  

It is noteworthy to mention that in the first quarter of 2020, CI Capital achieved net profits of EGP 101.85 million, down by EGP 122.95 million in the year-ago period.