Egypt - The board of directors of Beltone Financial Holding (BTFH) has approved the capital increase proposal through the issuance of an employee stock ownership plan, according to a statement filed to the Egyptian Exchange (EGX).

The company’s issued capital will be raised to EGP 927.029 million from EGP 891.30 million by EGP 35.65 million distributed over 17.82 million shares at a nominal value of EGP 2 per share to be financed in cash.

Moreover, the board agreed on assigning the chairman in calling for holding the ordinary general meeting (OGM) to discuss the capital increase decision and amend Articles 6 and 7 of the company’s Articles of Association.

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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