Cairo – Mubasher: Beltone Financial Holding's board of directors approved a proposal to raise the company's issued capital.

The proposal includes increasing the issued capital by EGP 35.65 million to EGP 927.02 million from EGP 891.3 million, the company said in a bourse disclosure on Tuesday. 

The capital raise will be conducted by issuing 17.82 million shares worth EGP 2 apiece as part of the employee stock ownership plan (ESOP).

In the first half (H1) of 2021, Beltone Financial Holding turned to net profits of EGP 8.54 million, versus net losses of EGP 20.52 million in H1-20, including minority shareholders' rights.