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OFH cuts stake in Beltone Financial Holding

OFH cuts stake in Beltone Financial Holding

ArabFinance: Orascom Financial Holding (OFH) decreased its stake in Beltone Financial Holding (BFH) to 61.24% from 68%, according to Beltone’s statement filed to the Egyptian Exchange.

OFH sold 21.865 million shares of Beltone at EGP 50,179 million, the statement highlighted.

Beltone posted a consolidated net profit before minority interest of EGP 3,803,748 in quarter one (Q1) 2021.

Beltone is an Egypt-based company, which operates within the diversified financial sector focusing on investment banking and brokerage.

The company develops an online trading platform, called Beltone Trade, as well as provides brokerage services, asset management, investment banking, liquidity services in regional markets, and research and analysis services.

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