I will post the article in full, so no one has to bother registering with the CPI Financial website to view it…just a reminder here, technically, Citadel does not hold the majority stakes in these companies, the foreign investors who hold majority stakes in Citadel do.
“Rights issue to close on 9 April 2014, completing the key step in the firm’s transformation into an investment company that will hold majority stakes in its subsidiaries in five core industries: energy, transportation, agrifoods, mining and cement
Citadel Capital has received regulatory approvals that will allow it to close its capital increase on 9 April 2014 with full subscription. The rights issue will bring the firm’s issued capital to EGP 8 billion.
The Egyptian Financial Services Authority (EFSA) has approved the dates for the second and final subscription period for the capital increase from Wednesday, 2 April 2014 until Wednesday, 9 April 2014, while the General Authority for Investment and Free Zones (GAFI) has also reviewed and approved a report by the firm’s independent auditor (KPMG / Hazem Hassan) that certifies EGP 3.7 billion in liabilities to co-investors and shareholders, mainly arising from investment purchases by the firm. Citadel Capital will capitalise an amount equivalent to the uncovered portion of the capital increase, thus ensuring it will be fully subscribed.
As part of its transformation into an investment company, Citadel Capital will focus on subsidiaries in five core industries: energy, transportation, agrifoods, mining and cement”
http://www.cpifinancial.net/news/post/26070/citadel-capital-to-close-capital-increase-to-egp-8-billion-on-9-april
External Context سياق خارجي
http://www.cpifinancial.net/news/post/26070/citadel-capital-to-close-capital-increase-to-egp-8-billion-on-9-april