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CI Capital uses EGP 970m of capital raise proceeds

CI Capital uses EGP 970m of capital raise proceeds
The remaining amount of the proceeds stands at EGP 51.76 million
CI Capital Holding
CICH
0.59% 3.43 0.02

Cairo – Mubasher: CI Capital Holding For Financial Investments spent EGP 970.21 million of the capital raise subscription proceeds amounting to EGP 1.022 billion.  

A total of EGP 120 million has been allocated for a loan used to partly finance the acquisition of Reefy-Micro Finance Enterprise Services Co and EGP 138.53 million has been spent to repay part of the remaining amount owed to the selling shareholders of Reefy, CI Capital said in a bourse disclosure on Thursday.

CI Capital also spent EGP 99.9 million to increase the issued and paid-up capital of CI Mortgage Finance, EGP 43.95 million to pay 75% of CI Capital’s contribution to the capital of CI Consumer Finance - Souhoola, and EGP 334.33 million to pay its contribution to EGY EDU Invest’s capital.

The company also provided loans worth EGP 233.5 million to subsidiary companies.

The remaining amount of the proceeds stands at EGP 51.76 million.