CI Capital eyes UAE expansion through brokerage firm acquisition

M&A WATCH- CI Capital is looking to acquire a brokerage firm in the UAE as part of its regional expansion plan, Managing Director and Head of Brokerage Karim Khadr tells Al Mal in an interview. Speaking on the sidelines of the firm’s second annual MENA Investor Conference, Khadr said that CI Capital is hoping to finalize the transaction and obtain its operating licenses before the end of 2018. Khadr did not provide additional details, but CI Capital CEO Mahmoud Atallah had said on Tuesday that his company was still planning an initial public offering on the EGX but has yet to decide on the timeline and size of the transaction, the proceeds from which it plans to use to fund future acquisition in the non-banking financial sector.