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EFSA receives IFA valuation for Beltone

EFSA receives IFA valuation for Beltone
Q2 net losses were driven by wage increase - Photo Credit: Reuters
Beltone Holding
BTFH
-2.82% 3.45 -0.10

Cairo – Mubasher: Beltone Financial Holding announced submitted the IFA valuation report to the Egyptian Financial Supervisory Authority (EFSA), according to a bourse statement on Wednesday.

This step came in line with the new regulatory requirements by which the companies whose shares advance more than 50% in less than 3 months should submit a fair value study.  

The company logged EGP 9.12 million net losses ($1.02 million) in Q2-16 against EGP 4.99 million profits ($561,000) for the year-ago period, taking into account minority rights, according to consolidated results.