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OFH exits from Beltone

OFH exits from Beltone

Arab Finance: Orascom Financial Holding (OFH) has sold its entire 55.908% stake in Beltone Financial Holding (BTFH) for EGP 384.795 million at an average price of EGP 1.485 per share, according to a shareholding disclosure on August 4th.

The number of sold shares amounted to 259.121 million shares.

It is worth noting that Chimera Investments acquired a 56% stake or 259.21 million shares in Beltone for around EGP 385 million.

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 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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