Citadel Capital makes sure its case is known - The National

Citadel Capital, an Egyptian private equity company, denies a charge it bought a cement maker from the government at an under-valued price.

In repeated statements to the press in recent days, the company said it bought Helwan Portland Cement from private owners, not the government, contradicting reports that a claim was filed with the country's public prosecutor on those grounds.

But the statements did little to keep the army of sellers at bay as the company's shares headed to their lowest close on record. The stock slumped almost 10 per cent to end at 4.69 Egyptian pounds.