This emphatically reflects the desire of foreign investors to inject more investments in the Egyptian market.
Such decision aims at creating more stock liquidity, whereby strengthening investor base in the Egyptian market and the company’s, particularly in light of recent reforms undertaken by the Egyptian Government to accelerate growth of the economy and improve the local investment climate.
Subsequently, BELTONE Financial Holding shall have 22.7% shares presented to free float.
About Beltone Financial Holding
Beltone Financial is a leading regional investment bank, offering a full range of financial services to companies, institutions and high-net-worth individuals in the Middle East, Europe, North America, and Asia. Beltone is the largest asset manager in Egypt with c. EGP 25 bn in AuM and a leading provider of independent equity research in the region. The firm’s track record includes the execution of over EGP 100 bn in M&A and capital markets transactions. Beltone is present on ground in the US through its subsidiary Auerbach Grayson, a New York-based brokerage and placement agent with access to over 125 markets globally. In 2015, the firm was acquired by Orascom Telecom Media & Technology (OTMT). Beltone is listed on the Egyptian Exchange trading under BTFH.CA.