12 Apr 2011
(MENAFN) Citadel’s managing director for institutional fundraising, Stephen Murphy, said that the private equity firm would participate in an initial public offering (IPO) for Taqa Arabia, its electricity and natural gas distributor, that could raise around USD175 million, reported the Arab News.
Murphy added that because of the political turmoil in Egypt, markets were closed and for that the company’s investments wouldn’t get the valuation it deserves, thus the company decided to delay the IPO from June till the end of the year.
Citadel’s chairman said that funds from the IPO would help Taqa to increase its investments in Egypt and the region.
It is worth noting that Citadel’s investments are estimated at USD8.3 billion, in both Middle East and East Africa, which include investments in agriculture and food processing, microfinance and transport sectors.
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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