Cairo – Mubasher: Orascom Financial Holding (OFH) slashed its stake in Beltone Financial Holding by 4.45% to 70.1% from 74.55%.

The transaction involved the sale of 20 million shares for EGP 71.55 million, averaging EGP 3.58 apiece, according to a bourse disclosure on Wednesday.

During the first quarter (Q1) of 2021, Beltone Financial Holding turned to net profits of EGP 3.803 million, against net losses of EGP 8.44 million in Q1-20, including minority shareholders’ rights.