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Orascom Financial Holding cuts stake in Beltone to 59.22%

Orascom Financial Holding cuts stake in Beltone to 59.22%

ArabFinance:  Orascom Financial Holding (OFH) cuts its stake in Belton Financial Holding (BTFH) to 59.22% from 61.24% by, according to a statement filed to the Egyptian Exchange.

OFH sold nine million shares at EGP 2.34 per share totaling EGP 21.086 million.

Beltone reported a consolidated net profit of EGP 8.54 million for the first half (H1) of 2021, against of net loss of EGP 20.52 million in H1 2020.  

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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