CAIRO: Arabia Investments, Development and Financial Investment Holding Company signed a five-year management deal with Beltone Financial Holding, Osama Saleh, the company’s Chairperson, said at a Monday press conference.
Under the agreement, Beltone will be responsible for managing and operating Arabia Investments’ assets and boosting the stakeholders’ resources.
The Egyptian Exchange’s (EGX) Listing Committee approved Beltone Financial Holding’s capital increase from 300 million EGP ($40. million) to 1 billion EGP, according to a statement posted on the EGX website Tuesday.
The committee also approved the listing of Beltone Holding’s capital hike shares to 125.484 million EGP from 83.656 million EGP distributed on 20,913,933 shares with a nominal value worth 2 EGP, added the statement.