CI Capital’s Egypt IPO covered almost 30 times

The public share offering of Egyptian investment bank CI Capital was covered around 29.5 times at a price of 7.7 Egyptian pounds ($0.43) per share, a bourse filling said on Tuesday.

The investment bank seeks to raise 1.7 billion pounds in the initial public offering by selling 41.5 percent of its shares on the Egyptian Exchange.

Jefferies International Limited and CI Capital Investment Banking are acting as joint global coordinators and bookrunners on CI Capital’s IPO. Norton Rose Fulbright was tapped as international counsel to the issuer, while White & Case is the underwriters’ counsel. Matouk Bassiouny will serve as local counsel, while Pharos Securities Brokerage and HC Brokerage are acting as placements agents.