Alaa Arafa fully exits from CI capital after selling EGP 164.85m stake

By: Heba El-Kordy

Cairo – Mubasher: Chairman of Arafa for Investment and Consultancies Alaa Ahmed Abel Maksoud Arafa has completely exited from CI Capital Holding in less than a month, netting EGP 164.85 million.

Earlier this month, Arafa sold a 3.53% stake or 19.23 million shares in CI Capital through two transactions.

On 10 January, CI Capital Securities Brokerage said that Arafa’s chairman had cut his stake in CI Capital to 1.88% from 3.53% by selling 9 million shares at a value of EGP 73.65 million or EGP 8.21 per share.

Earlier this day, CI Capital revealed that Arafa has fully exited the company by selling 10.23 million shares at a value of EGP 91.2 million or EGP 8.9 per share.

Alaa Arafa is an Egyptian businessman who has investments in the ready-made clothing field through his company Arafa Group, which owns the “Concrete” brand, in addition to investments in the energy and gas sectors.

CI Capital’s capital amounts to EGP 544.18 million, distributed over 544.18 million shares at a par value of EGP 1 per share.

Translated by: Mai Ezz El-Din

MUBASHER Contribution Time: 29-Jan-2019 12:25 (GMT)
MUBASHER Last Update Time: 29-Jan-2019 12:44 (GMT)