IPO WATCH- CI Capital expects to raise USD 100 mn through its anticipated IPO: CI Capital is expecting to raise c. USD 100 mn (EGP 1.8 bn) from its IPO, which is scheduled to take place in 2Q2018, sources close to the matter tell Al Mal. The company had previously said that it intends to re-inject up to EGP 1.0 bn in proceeds from the transaction into the firm through a follow-on capital increase, suggesting some shareholders are cashing out as much as EGP 800 mn. CI Capital had announced last month its intention to sell 246.9 mn ordinary shares, or 43.6% of the company, on the EGX. The company is looking at allocating 10% of the shares to a retail offering and the remaining 90% to a private placement offering, the sources say.

Advisors: Jefferies International Limited and CI Capital Investment Banking are acting as joint global coordinators and bookrunners on the IPO. Norton Rose Fulbright was tapped as international counsel to the issuer, while White & Case is the underwriters’ counsel. Matouk Bassiouny will serve as local counsel and HC Brokerage and Pharos Securities Brokerage are acting as placements agents.