By Mahmoud Salah El-Deen
Cairo – Mubasher: FINCORP Investment Holding notified the Egyptian Financial Supervisory Authority (EFSA) of an error in the fair value study (FV) of Beltone Financial Holding, said EFSA Chairman Sherif Samy.
Earlier, the bourse decided to temporarily halt trading on Beltone from 17 October until receiving EFSA report
The Egyptian Exchange will resume trading on Beltone after receiving the corrected FV version and deciding how far the financial advisor is responsible for this error, the Chairman added.
A first-hand official at FINCORP assured that the amended FV study was submitted a few moments ago.
The company logged EGP 9.12 million net losses ($1.02 million) in Q2-16 against EGP 4.99 million profits ($561,000) for the year-ago period, taking into account minority rights, according to consolidated results.
