{"id":589174,"date":"2023-06-22T00:00:00","date_gmt":"2023-06-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/22\/abou-hashima-to-acquire-5-of-beltone\/"},"modified":"2023-06-22T00:00:00","modified_gmt":"2023-06-22T00:00:00","slug":"abou-hashima-to-acquire-5-of-beltone","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/22\/abou-hashima-to-acquire-5-of-beltone\/","title":{"rendered":"Abou Hashima to acquire 5% of Beltone"},"content":{"rendered":"

<\/span>Abou Hashima takes a large stake in Beltone:<\/span> Businessman Ahmed Abou Hashima <\/span>will acquire a 5% stake in Beltone Financial after subscribing to the company\u2019s ongoing capital increase, <\/span>Asharq Business<\/a><\/span> reported yesterday, citing two sources it says are familiar with the matter. \u201cAbou Hashima bought the right to subscribe to the capital increase of Beltone, equivalent to 5% of the company's shares, after the completion of the capital increase,\u201d one of the sources reportedly said. A company representative declined to comment on the report when we reached out.<\/span><\/p>\n

Beltone\u2019s EGP 10 bn capital increase:<\/span> The company is aiming to raise around EGP 10 bn by issuing new shares, making it the largest capital increase since Orange Egypt raised EGP 15 bn in March 2020, according to Asharq.<\/span><\/p>\n

Subscription closes soon:<\/span> The <\/span>subscription period<\/span> began on 6 June and investors have until 6 July to subscribe. The company\u2019s <\/span>463.5 mn shares closed down 4.6% at EGP 4.35 per share yesterday, giving it a market cap of just over EGP 2 bn. <\/span><\/p>\n

Chimera is Beltone\u2019s majority shareholder:<\/span> Abu Dhabi-based investment company Chimera Investments acquired <\/span>56% of Beltone<\/a><\/span> in 2022 in a transaction that valued the company at EGP 690 mn. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Beltone is looking to raise EGP 10 bn via a capital increase<\/p>\n","protected":false},"author":1,"featured_media":589175,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[590,812,350,72,503,7128,595],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-589174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-ahmed-abou-hashima","tag-beltone-financial","tag-chimera-investment","tag-enterpriseam","tag-financial-services","tag-ma-watch","tag-non-banking-financial-services","wpautop","entry"],"acf":{"mongo_id":"3db37613-ccb9-4b9a-b619-978bd53a02c5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/1144.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian businessman Ahmed Abou Hashima to acquire 5% of Beltone","related_issue":[589160],"teaser":"Beltone is looking to raise EGP 10 bn via a capital increase","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/7\/.5d3cd83b-4ca4-4c69-bd01-31a44aea25b5.mp3"},"yoast_head":"\nAbou Hashima to acquire 5% of Beltone - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/22\/abou-hashima-to-acquire-5-of-beltone\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Abou Hashima to acquire 5% of Beltone\" \/>\n<meta property=\"og:description\" content=\"Beltone is looking to raise EGP 10 bn via a capital increase\" \/>\n<meta property=\"og:url\" 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