Banque Misr increased its ownership stake in CI Capital from 13.72% to 15.12% during the Wednesday trading session at the Egyptian Exchange, adding about 14m shares worth approximately EGP 58.1m.
In a statement released on Wednesday, CI Capital said that the average share price in the deal was EGP 4.14, with the purchase executed by CI Capital Securities Brokerage and Beltone Securities Brokerage.
Over the past two months, Banque Misr has carried out several acquisitions of CI Capital shares as part of its plan to increase its stake in the company to 25%.
On 21 July, the bank bought 28.6m shares at a total value of EGP 114.5m, increasing its stake at that time from 7.3% to 10.16%.
Banque Misr had, on 21 June, bought a stake of about 4%, representing 30.4m of CI Capital’s shares at a total value of EGP 134m.