ArabFinance: CI Capital Asset Management aims to relaunch of Suez Canal Bank’s (CANA) first monetary fund with a capital of EGP 250 million, Amwal Alghad website reported.


“The company will relaunch the fund after stabilizing the situation and restoring the liquidity to the market,” CI Capital Holding for Financial Investments (CICH) Managing Director Amr Abu El-Enin told Amwal Alghad.

"The launch of the fund, which was expected to launch by the end of the first quarter of 2020, has been delayed due to the coronavirus crisis," Abu El-Enin said.

Suez Canal Bank’s fund is planned to augment the base of managed assets which is amounting to EGP 9.3 billion.

On March 19th, CI Capital ordinary general meeting approved financial results and appropriation account for 2019.

In addition, it approved increasing the issued capital from EGP 800 million to EGP one billion by distributing 0.25 free stock for every existing one held.

CI Capital is an Egypt-based diversified financial services group. The company provides capital raising and mergers and acquisitions advisory, asset management, securities brokerage, custody, and research through its investment banking platform.

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