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FRA nods to Chimp 1’s MTO for up to 90% stake in Beltone 

FRA nods to Chimp 1’s MTO for up to 90% stake in Beltone 

Arab Finance: The Financial Regulatory Authority (FRA) has approved the prospectus of the mandatory purchase offer (MTO) submitted by Chimp 1 Investment SPV for a stake ranging between 51% and 90% of Beltone Financial Holding’s (BTFH) share capital, according to a statement filed to the Egyptian Exchange (EGX) on July 19th. 

The offered price for acquiring the majority stake in Beltone Financial has been set at EGP 1.485 per share. 

Beltone is an Egypt-based company that 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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