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OFH sells 55.9% stake in Beltone

OFH sells 55.9% stake in Beltone

Arab Finance: Orascom Financial Holding (OFH) has issued an order to fully sell its stake in Beltone Financial Holding (BTFH), according to a statement filed to the Egyptian Exchange (EGX) on July 26th.

The stake represents 259.12 million shares or 55.908% of Beltone’s total shares, OFH noted.

Earlier this day, OFH said its board of directors has agreed to fully or partially sell its stake of around 259.12 million shares in Beltone to Chimera Investments at a price of EGP 1.485 per share.

On June 13, OFH announced that Beltone had received a mandatory purchase offer from the Abu Dhabi-based private investment firm Chimera Investments for a stake ranging between 51% and 90% at a price of EGP 1.485 per share.

Founded in 2020, OFH is a technology-driven financial service investment company. The company is traded on the Egyptian Exchange under the symbol OFH.CA.

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

 

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