by Mahmoud Salah El-Din
Cairo – Mubasher: BPe, formerly Beltone Capital Holding, addressed EGX to extend the grace period, which will end on 30 April, for its share floatation, said Hazem Barkat, Chairman.
In December 2015, the company decided to float a stake on the Egyptian Exchange by the first half of 2016 after complying with all regulatory controls and assessing market recovery condition, Barkat said, adding that “the company prepares to file with the bourse to extend the grace period for more three months.”
In the same vein, Beltone said its board of directors has endorsed the study prepared by the independent financial advisor, in respect to the company's fair value at EGP 27.8 per share
Last July, the listing committee of the Egyptian Exchange gave go-ahead to list the shares of Beltone Capital, with issued and paid-in capital of EGP 584.46 million, distributed across 58.44 million shares at EGP 10 par value each.
Translated by Ahmed El-Sayed Ali
