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254M shares covered in sub., remaining shares will be reoffered, Beltone says
: Beltone Financial Holding (BTFH) announced on Jan. 21 the outcome of subscription to the capital increase, which ran from Dec. 18, 2019, until Jan. 19, 2020.
The company stated that the covered shares are 254,470,329 shares, amounting to EGP 508,940,658 with outlay costs of EGP 338,031,958, which represent 90.8% of the total offered shares.
Beltones OGM decided on August 01, 2019, to increase the issued capital by issuing 280,185,715 shares, amounting to EGP 560,371,430. The shares were allocated to existing shareholders at par value of EGP 2/share and outlay costs of EGP 0.02/share.
Moreover, the uncovered shares are 25,715,386 shares, representing 9.2% of the total offered shares, accordingly, the company will take the necessary procedures to reopen the subscription to uncovered shares.
It is worth mentioning that the Financial Regulatory Authority (FRA) approved on Nov. 26, 2019, increasing Beltone Financials capital from EGP 338,031,958 to EGP 898,403,388, with an increase amounting to EGP 560,371,430.




Time Added: 2020-01-21 11:24:58
Source: arabfinance
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