Cairo – Mubasher: Financial Advice Corporate Transactions (FACT) has set the fair value (FV) of Beltone Financial Holding’s stock at EGP 2.52 per share.

The final value of shareholder rights amounts to EGP 1.13 billion, FACT said, according to a bourse statement released on Wednesday.

Last month, the Egyptian Financial Regulatory Authority (FRA) approved increasing the capital of Beltone Financial to EGP 898.4 million from EGP 338.03 million through a rights issue.

The company’s capital will be raised by EGP 560 million, at a nominal value of EGP 2 per share, in addition to issuance expenses of EGP 0.02 a share.

Subscription to shares will start on 18 December and end on 19 January 2020, the statement showed.