Cairo – Mubasher: Beltone Financial Holding's board of directors is weighing up issuing global depository receipts (GDRs) on the London Stock Exchange (LSE) on the back of the hike of the company’s free-float stake by more than 22%.
The company has not submitted the required documents of the GDR issue to the Financial Supervisory Authority (FRA) yet, Beltone added in a statement to the Egyptian Exchange (EGX).
It is worth mentioning that Orascom Telecom Media and Technology Holding’s (OTMT) board of director agreed to sell a 7% stake in Beltone Financial Holding to the company’s main shareholder.
Beltone’s capital amounts to about EGP 200 million distributed over 169 million shares at a par value of EGP 2 per share.
