Thursday, 8 July 2021

CI Capital could be saying goodbye to Souhoola


The EGX30 fell 0.9% at today’s close on turnover of EGP 1.23 bn (0% above the 90-day average). Regional investors were net sellers. The index is down 6.1% YTD.

In the green: Palm Hills Development (+3.1%), Sidi Kerir Petrochemicals (+1.4%) and CIB (+0.3%).

In the red: Fawry (-4.6%), Pioneers Holding (-2.6%) and Cleopatra Hospital (-2.5%).


Is CI Capital looking to sell Souhoola? The investment bank hired Karvy Financial (LinkedIn) to conduct a fair value study for its consumer finance arm, Souhoola, it said in a regulatory filing (pdf), without citing a reason for the move. An official from CI Capital refused to comment on the news.

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