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Beltone uses EGP 125m of capital raise proceeds

Beltone uses EGP 125m of capital raise proceeds
The remaining amount of the proceeds reaches EGP 41 million
Beltone Financial
BTFH
-0.45% 2.23 -0.01

Cairo – Mubasher: Beltone Financial Holding used EGP 125 million of its capital raise subscription proceeds, totalling EGP 166 million, until 30 June 2020.

Beltone Financial Holding spent EGP 50 million, while Beltone Securities Holdings and Beltone Promotion and Underwriting spent EGP 66 million and EGP 9 million, respectively, according to a bourse disclosure on Thursday.

The remaining amount of the proceeds reaches EGP 41 million, which is allocated for Beltone Promotion and Underwriting.

In 2020, Beltone Financial Holding incurred consolidated net losses of EGP 132.42 million, up from EGP 91.50 million a year earlier, excluding minority shareholders’ rights.