{"id":592583,"date":"2023-08-08T00:00:00","date_gmt":"2023-08-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/08\/beltone-financial-gets-the-regulators-go-ahead-for-dd-on-cash\/"},"modified":"2023-08-08T00:00:00","modified_gmt":"2023-08-08T00:00:00","slug":"beltone-financial-gets-the-regulators-go-ahead-for-dd-on-cash","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/08\/beltone-financial-gets-the-regulators-go-ahead-for-dd-on-cash\/","title":{"rendered":"Beltone Financial gets the regulator\u2019s go-ahead for DD on Cash"},"content":{"rendered":"

Beltone one step closer to acquiring Cash: <\/strong>Beltone Financial<\/a> has received the greenlight from the Financial Regulatory Authority (FRA) to proceed with its acquisition of Minya-based microfinance provider Cash, it said yesterday in an EGX disclosure (pdf)<\/a>. The company is now cleared to begin due diligence. <\/p>\n

BACKGROUND: <\/strong>Local media last week identified the unnamed microfinance company Beltone had signed an MoU<\/a> to acquire as Cash. Sources told Al Borsa that the due diligence process would take around two months once Beltone got the go-ahead from regulators<\/a>.<\/p>\n

Market reax: <\/strong>Beltone shares were up 5.9% on Monday to close at EGP 3.95 apiece. <\/p>\n

REMEMBER- Beltone has plenty of dry powder. <\/strong>The company in July closed a landmark EGP 10 bn capital increase<\/a>, placing some 5 bn new shares<\/a> on the EGX. Prominent global institutional investors came into the firm\u2019s share base via the transaction, which was also met with heavy demand from local investors.<\/p>\n","protected":false},"excerpt":{"rendered":"

Beltone is now cleared to begin due diligence<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[812,11007,72,7128,311,595],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-592583","post","type-post","status-publish","format-standard","hentry","category-ma-watch","tag-beltone-financial","tag-cash","tag-enterpriseam","tag-ma-watch","tag-microfinance","tag-non-banking-financial-services","wpautop","entry"],"acf":{"mongo_id":"ce06ae60-a419-4d5e-8b15-eb2795413075","is_powered_by":false,"story_type":"1","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian regulator greenlights Beltone Financial for due diligence on Cash","related_issue":[592576],"teaser":"Beltone is now cleared to begin due diligence","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.cbac514c-90b2-4624-92df-c32187535d45.mp3"},"yoast_head":"\nBeltone Financial gets the regulator\u2019s go-ahead for DD on Cash - 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\/08\/08\/beltone-financial-gets-the-regulators-go-ahead-for-dd-on-cash\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Beltone Financial gets the regulator\u2019s go-ahead for DD on Cash\" \/>\n<meta property=\"og:description\" content=\"Beltone is now cleared to begin due diligence\" \/>\n<meta property=\"og:url\" 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