7 May 2019 — Compass, a leading private equity firm focusing on value investing, has successfully completed the secondary offering of its stake in CI Capital as part of the accelerated book build on the Egyptian Stock exchange that was executed on Sunday the 5th of May 2019.
Compass, alongside a group of investors, identified and executed in March 2017 the acquisition of a stake in CI Capital from Commercial International Bank (CIB). Compass successfully completed a partial exit in May 2018 through CI Capital’s initial public offering (IPO) on the Egyptian Exchange (EGX). Coinciding with the expiry of the IPO lock-up period, the accelerated book build presented Compass with the opportunity to further realize returns on its investment.
Based on the listing price of EGP 7.7 per share for the IPO and the offer price of EGP 9.0 per share for the secondary offering, Compass Capital generated an average IRR of 102% in EGP (108% in USD) and a money multiple of 3.22x in EGP (3.37x in USD) on its investment over the holding period of just over 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 NBFS sector, and most recently ventured into the compelling education space. The bank’s success is driven by its talented management team, prudent strategies and balance sheet strength, and we are proud to have been a part of this successful chapter in CI Capital’s growth story,” said Shamel Aboul Fadl, Founder & Chairman of Compass.
Notes for Editors
Compass is a leading private equity firm focusing on value investing. The firm’s multi-disciplinary team has a long and successful track record of generating attractive investment returns having successfully executed numerous transactions requiring capital flexibility, financial restructuring, and operational turnaround. Compass follows a disciplined investment approach that hinges on defining strategic initiatives, agile implementation of strategy, supporting talented management, and providing required growth capital to drive growth. The company is a principal investor in its own transactions and actively works to ensure that the interests of all stakeholders are aligned in the investments it pursues.
2 Wadi El Nile Street, Mohandeseen, Giza, Egypt
T +(202) 330 50700 | F +(202) 330 50711
This communication contains certain forward-looking statements. A forward-looking statement is any statement that does not relate to historical facts and events, and can be identified by the use of such words and phrases as “according to estimates”, “aims”, “anticipates”, “assumes”, “believes”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “is of the opinion”, “may”, “plans”, “potential”, “predicts”, “projects”, “should”, “to the knowledge of”, “will”, “would” or, in each case their negatives or other similar expressions, which are intended to identify a statement as forward-looking. This applies, in particular, to statements containing information on future financial results, plans, or expectations regarding business and management, future growth or profitability and general economic and regulatory conditions and other matters affecting the Company.
Forward-looking statements reflect the current views of the Company’s management (“Management”) on future events, which are based on the assumptions of the Management and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. The occurrence or non-occurrence of an assumption could cause the Company’s actual financial condition and results of operations to differ materially from, or fail to meet expectations expressed or implied by, such forward-looking statements.
The Company’s business is subject to a number of risks and uncertainties that could also cause a forward-looking statement, estimate or prediction to differ materially from those expressed or implied by the forward-looking statements contained in this prospectus. The information, opinions and forward-looking statements contained in this communication speak only as at its date and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this communication.