Egypt's Citadel Capital plans USD 528 million capital hike | ASHARQ AL-AWSAT:
"Egyptian private equity firm Citadel Capital has won regulatory clearance to ask shareholders to approve a capital increase, it said on Sunday, underlining a more confident mood on local markets.
If the EGP 3.64 billion (USD 528 million) share issue goes ahead, it will be one of the biggest in Egypt since its 2011 revolution.
Citadel, which has struggled with losses over the past two years, originally requested regulatory approval for the share sale last year. But like many business plans during the chaotic administration of Islamist president Mohamed Mursi, it did not go ahead because of bureaucratic obstacles and poor market conditions.
Mursi was ousted by the army after popular protests in early July."
'via Blog this'
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