Citadel Capital to go public

Middle East Bank

The leading private equity firm in the MENA region will list shares on the Egyptian Exchange (EGX) in a move that underscores Citadel Capital's commitment to transparency and creating value for shareholders and limited partners alike.

Citadel, the leading private equity firm in the Middle East and Africa with US$8.3 billion in investments under control, announced today that it will list its shares on the EGX. Citadel chairman and founder Ahmed Heikal said of the decision, "We are about to enter what we believe will prove to be another outstanding vintage year for private equity investments.

"It is time for decisive investors with proven strategies to embark on the next wave of deals that will generate strong returns. This listing will give Citadel new flexibility in accessing equity capital markets at a later date, furthering our ability to invest in our own deals as a principal investor."

Citadel has generated more than US$2.4 billion in cash returns

The company are also set to explore further investment opportunities in Saudi Arabia, Iraq, North and East Africa, as well as Egypt, Heikal added.

As Zawya.com reports, in the five years since it was formed Citadel has generated more than US$2.4 billion in cash returns for its limited partners on investments of US$650 million (more than any other private equity company in the region) and has grown to become the largest private equity firm in Africa.

It has executed the largest private equity deal in the Middle East and North Africa to-date, the US$1.4 billion sale of Egyptian Fertilizers Company.

Citadel favour a flexible approach to private equity investing through raising Opportunity-Specific Funds (OSFs) throughout the MENA region. To date, Citadel's 17 OSF's control Platform Companies across 12 nations and 14 industries including mining, cement, transportation, food, energy.

Citadel will announce its stock symbol and confirm a listing date within the next few weeks.

Related Articles:

Kuwait: Gulf currency not imminent | No real crisis in Middle East | Kuwait eyes solar to replace oil

Like this article? Get the RSS feed: