Cairo – Mubasher: The ordinary general meeting (OGM) of Beltone Financial Holding approved a proposal to increase the company’s issued and paid-up capital to EGP 926.957 million from EGP 891.305 million.

The capital will be raised by EGP 35.652 million distributed over 17.826 million shares at a nominal value of EGP 2 apiece, the company said in a bourse disclosure on Thursday. 

Total proceeds of the capital increase will be dedicated to 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.