Egypt: Beltone secures $196mln after concluding 2nd capital hike
Arab Finance: Beltone Holding has completed its second capital increase, securing EGP10.5 billion with a remarkable 98% subscription coverage, according to a press release.
The EGX-listed firm will use the proceeds from the capital increase to accelerate growth across its platforms, expand its business into high-growth markets, and enhance its digitally scalable capabilities.
Beltone aims to increase its product offerings and attract high talent to drive operational excellence and innovation.
Meanwhile, FABMISR acted as the Subscription Receiving bank.
Dalia Khorshid, Group CEO and Managing Director, commented: 'This second capital increase marks a defining milestone in Beltone's growth journey, reflecting the trust we've earned from our shareholders and the market's recognition of our strong and impactful growth.'
'Guided by a data-driven strategy, and powered by an exceptional team, we are accelerating growth across our platforms, with a strong focus on strategic expansion, AI, and digital transformation,' Khorshid added.
In 2024, Beltone recorded consolidated operating revenues amounting to EGP 7.2 billion, while the net profits exceeded EGP 1.7 billion.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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