IPO WATCH- CI Capital plans to take Taaleem to market in two years: Investment bank CI Capital plans to list Taaleem Management Service Company, the owner and operator of Nahda University in Beni Suef, on the EGX within two years, CEO Hazem Badran told Al Mal. Badran did not disclose the expected size of the offering. The listing could also include a capital increase, Badran said, without clarifying whether this would include a rights issue to shareholders. CI Capital itself is not looking to exit the company anytime soon, but plans to give current shareholders the option to do so.

Background: CI Capital and a group of co-investors — which included StonePine ACE Fund, a JV between StonePine Capital and ACE — acquired a 60% stake in Taaleem from Thebes Education Management Holdings in an EGP 1.2 bn transaction last month. The consortium acquired the stake though CI Capital investment vehicle EGY EDU Invest. The firm kicked EGP 305 mn for the acquisition, while the co-investors committed EGP 895 mn.