By Ahmed Allam, Mahmoud Salaheddin

Cairo – Mubasher: Beltone Financial Holding plans to arrange new initial public offerings (IPOs) at a combined value exceeding EGP 10 billion on the Egyptian Exchange through 2016, said Chairman Sameh El Torgman.

The new IPOs will be in different sectors, mainly retail and foodstuff,  he added, during a banking summit held Tuesday.

El Torgman declined to unveil the number of these IPOs.

 El-Torgoman was appointed as Beltone’s new chairman following Orascom Telecom Media and Technology Holding (OTMT) and Act Financial’s acquisition of 100% of Beltone Financial Holding.