Citadel Capital Gets Regulatory Nod to Discuss Capital Top-up to EGP9 bln

Egypt’s financial regulator – the Egyptian Financial Supervisory Authority (EFSA) sent on Thursday a release to the Egyptian Exchange (EGX) stating that it approved Citadel Capital – (CCAP.CA) to discuss increasing company’s issued and paid capital by EGP 3.641.875.000 through issuance of 182.093.750 preferred shares and 546.281.250 ordinary shares at a nominal value of EGP 5 per share and calling for the existing shareholders to subscribe in shares of capital increase.

Moreover, the company also will discuss increasing authorized capital to EGP 9 billion from EGP 6 billion.