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EGX approves Beltone 1-for-2 bonus issue

EGX approves Beltone 1-for-2 bonus issue
Beltone Holding
BTFH
-2.82% 3.45 -0.10
The securities listing committee of the Egyptian Exchange (EGX) approved on Wednesday the request received from Beltone Financial Holding to increase issued capital from EGP 83.655 million to EGP 125.483 million through 1-for-2 bonus share distribution.
According to the company’s statement, the bonus share distribution will be financed from retained earnings as on December 31, 2013.
EGX approved increasing issue capital by not less than EGP 100 million and not more than EGP 200 million at par value to original shareholders after listing secondary shares.
The company announced earlier that its capital increase is aimed at boosting its current operations and expanding in non-banking segment over the coming period.