Cairo – Mubasher: Beltone Financial Holding’s board of directors has decided to cancel raising the issued capital to EGP 1.3 billion, from EGP 338.03 million.
The Egyptian investment bank also decided to postpone its extraordinary general meeting (EGM), set to be held on Thursday, 8 November, for amending some of the decisions issued on 27 June 2016, according to a statement to the Egyptian Exchange (EGX) on Monday.
The board authorised the company’s chairman, the deputy, or the managing director to call for the EGM to discuss the capital hike cancellation.
Beltone Financial Holding last reported turning profitable during the first quarter of 2018, after generating EGP 760,200, against a loss of EGP 8 million during Q1-17.
