Banque Misr raises its stake in CI Capital

Banque Misr, one of Egypt’s biggest state banks, raised its stake in CI Capital Holding For Financial Investments to 15.12 percent from 13.72 percent.

The bank bought 14 million shares for 58.1 million Egyptian pounds at an average price of 4.14 pounds per share.

During the first quarter of 2020, CI Capital Holding reported net profits of 101.85 million pounds, down from 22.95 million pounds in the year-ago period.