Egypt: Beltone Financial’s rights issue subscribed by 98% at 1st phase

Egypt: Beltone Financial’s rights issue subscribed by 98% at 1st phase

Arab Finance: The first phase of Beltone Financial Holding’s rights issue for the capital increase was subscribed at a coverage ratio of 97.99%, the Financial Regulatory Authority revealed (FRA) on July 12th. Nearly 100.434 million shares have not been covered in the first phase of the rights issue, therefore, a second phase has been reopened for senior shareholders to subscribe into the remaining uncovered shares at a nominal value of EGP 2 per share. In June, the Egyptian tycoon Ahmed Abou Hashima purchased about 5% of Beltone Financial Holding through rights issue that allows subscription to capital increase shares. Beltone is an Egypt-based company, which operates within the diversified financial sector focusing on investment banking and brokerage. Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).