FRA approves capital hike of EGP 200m for CI Capital

Egypt’s investment bank CI Capital has received the Egyptian Financial Regulatory Authority’s (FRA) approval to increase its issued capital to1 billion Egyptian pounds up from  800 million pounds.

The company’s capital will be raised by 200 million pounds to be financed from the issue premium reserve as per the financial statements for the year ended 30 December 2019 through distributing 0.25 bonus share for every share held, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

It is noteworthy that during 2019, CI Capital’s net profits hiked to 621.15 million pounds from  425.31 pounds million in 2018.