Cairo – Mubasher: Beltone Financial Holding announced that subscription to its rights issue was covered by 98.73%.

The transaction involved 276.6 million shares worth EGP 553.27 million, in addition to issuance expenses amounting to EGP 5.53 million, the company said in a statement to the Egyptian Exchange (EGX) on Thursday.

Previously, the EGX’s listing committee approved Beltone’s request to increase its issued capital to EGP 898.4 million by issuing 280.18 million shares through a rights issue.  

It is worth mentioning that during the first nine months of 2019, Beltone’s losses attributable to the parent company’s shareholders grew to EGP 63.3 million, compared to EGP 27.2 million in the corresponding period a year earlier, including minority shareholders’ rights.