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Egypt's Citadel raises $73.5 million in rights issue
Leading private equity firm reaches target for first rights issue, with second to follow upon approval
Reuters Published in Ahram Online on 06 - 10 - 2011

Egyptian private equity firm Citadel Capital said on Wednesday it raised LE438 million (US$73.5 million) in a rights issue that was 41.72 per cent subscribed.
Citadel had said it intended to raise its capital by LE1.05 billion to LE4.4bn from LE3.3bn by issuing 210 million new shares at a par value of LE5 a share.
Shareholders will be able to subscribe to the remaining amount as soon as the necessary approvals are obtained, a statement e-mailed by the firm said.
Citadel Capital has $8.7 billion investments under its control.

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