Cairo – Mubasher: Beltone Financial Holding‘s chairman Sameh El-Torgman on Monday said that the firm plans to launch initial public offerings (IPOs) on the Egyptian Exchange (EGX).
The financial services firm is also considering mergers and acquisitions (M&As) at EGP 10 billion over the coming period, the top official added on the sidelines of the Euromoney Conference in Cairo.
The targeted acquisitions will be executed through 15 firms operating in various sectors, including pharmaceutical, food, distribution and retail, real estate, and logistics, El-Torgman said, pointing out that the IPOs will be announced over the next period.
The chairman forecasted the first IPO managed by Beltone Financial will be launched prior to the end of 2017.
Beltone Financial’s stock closed Monday in the green, adding 1.31% to EGP 13.14.
