Cairo – Mubasher: Compass Capital announced the completion of selling its stake in CI Capital Holding, according to a statement.
In March 2017, Compass as well as a group of investors acquired CI Capital from the Commercial International Bank (CIB) and then floated the company in an initial public offering (IPO) on the Egyptian Exchange (EGX) in May 2018.
Compass Capital achieved an average internal rate of return (IRR) of 102% in Egyptian pound (EGP) and a money multiple of 3.22 times in EGP during the holding period of about two years.
“Over the course of our investment, CI Capital strengthened its core investment banking services, executed strategic acquisitions that positioned it as a formidable player in the non-banking financial services (NBFS) sector, and most recently ventured into the compelling education space,” founder and chairman of Compass, Shamel Aboul Fadl, said.
During the first quarter of 2019, CI Capital Holding posted a 41.3% surge in consolidated profits, logging EGP 130.27 million, compared to EGP 92.18 million in the year-ago period.
Meanwhile, CI Capital’s revenues rose to EGP 694.88 million in Q1-19 from EGP 522.99 million in the same period a year earlier.
