Private equity firm plans to float 12.5 per cent of shares
Egyptian private equity fund Citadel Capital has announced it will list its shares on the Egyptian Exchange.
The company will float 12.5 per cent of its shares on the exchange to enable it to raise capital in the future.
“Management is not selling,” says Ahmed Heikal, the company’s chairman and founder. “Listing on the [exchange] will make it easier for Citadel Capital to raise its own capital in the future, thereby enhancing our ability to be significant principal investors in our own transactions.”
Citadel will announce its stock symbol and listing date soon.
The company usually invests between 10 and 20 per cent of the equity in each of its transactions. It currently manages a portfolio of $8.3bn worth of investments in across 12 countries.
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