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Citadel Capital to go public

Citadel Capital, a private equity firm in the Middle East and Africa, is to list its shares on the Egyptian Exchange.

The listing will not include the offering of new equity in the firm at this time.
 
“We are about to enter what we believe will prove to be another outstanding vintage year for private equity investments,” says Citadel Capital chairman and founder Ahmed Heikal (pictured). “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 Capital 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 Capital, which typically invests ten to 20 per cent of the equity in each of its deals alongside regional and international limited partners, is presently exploring new investments in Saudi Arabia, Iraq, North and East Africa, and Egypt.
 
In the five years since it began operations, Citadel Capital has generated more than USD2.4bn in cash returns for its limited partners on investments of USD650m 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 USD1.4bn sale of Egyptian Fertilizers.
 
Citadel Capital Partners, the vehicle through which senior management holds its equity in the firm, is not selling any shares at this time.
 
Heikal adds: “Listing on the EGX will make it easier for Citadel Capital to raise its own capital in the future, thereby enhancing our ability to be significant principal investors in our own transactions. This is a key component of our business model that ensures Citadel Capital’s interests are fully aligned with the interests of our limited partners in each and every one our investments.
 
Citadel Capital will announce its stock symbol and confirm a listing date shortly.

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