{"id":635627,"date":"2017-12-10T03:56:22","date_gmt":"2017-12-10T03:56:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/10\/beltone-investors-acquitted-of-market-manipulation\/"},"modified":"2017-12-10T03:56:22","modified_gmt":"2017-12-10T03:56:22","slug":"beltone-investors-acquitted-of-market-manipulation","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/10\/beltone-investors-acquitted-of-market-manipulation\/","title":{"rendered":"Beltone investors acquitted of market manipulation"},"content":{"rendered":"

Investors in Beltone shares acquitted of market manipulation:<\/strong> An economic court acquitted last week all 12 investors accused of manipulating Beltone Financial\u2019s share price, Al Borsa reports<\/a>. No Belton executive had been implicated in the case, which dates back to February 2016, when investors allegedly bid for large blocks of Beltone shares before canceling minutes later, prompting Beltone\u2019s share price to surge. The EGX repeatedly reversed trades<\/a> in Beltone\u2019s shares, pushing Beltone to sue the heads of the EGX and EFSA for \u201cdeliberately harming\u201d the firm. According to a report from experts enlisted by the court, the investors were found innocent of manipulating Beltone\u2019s shares. The surge in the firm\u2019s share price was attributed to the <\/strong>February 2016 announcement<\/strong><\/a> that Orascom Telecom Media Technology (OTMT) asked Beltone Financial, its subsidiary, to complete its acquisition of CI Capital<\/strong> as part of OTMT\u2019s strategy to combine Beltone and CI Capital to create a regional financial conglomerate. The report also blamed the EGX\u2019s reversal of trades for driving investors to speculate and purchase large chunks of the firm\u2019s shares.<\/p>\n","protected":false},"excerpt":{"rendered":"

Investors in Beltone shares acquitted of market manipulation: An economic court acquitted last week all 12 investors accused of manipulating Beltone Financial\u2019s share price, Al Borsa reports. No Belton executive had been implicated in the case, which dates back to February 2016, when investors allegedly bid for large blocks of Beltone shares before canceling minutes […]<\/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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-635627","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"91427c45-12bd-4e86-9013-047f78c98270","order":"0","is_powered_by":true,"section_story_id":"e9c327a2-525a-433a-946d-8a48e3e086ce","story_type":"1","photo_url":"","photo_position":"above","related_issue":[635614],"teaser":"","voice_url":""},"yoast_head":"\nBeltone investors acquitted of market manipulation - 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\/2017\/12\/10\/beltone-investors-acquitted-of-market-manipulation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Beltone investors acquitted of market manipulation\" \/>\n<meta property=\"og:description\" content=\"Investors in Beltone shares acquitted of market manipulation: An economic court acquitted last week all 12 investors accused of manipulating Beltone Financial\u2019s share price, Al Borsa reports. 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The Egyptian Financial Supervisory Authority (EFSA) has submitted documents to the Administrative Court accusing some shareholders in Beltone Financial of manipulating stocks, Al Shorouk reports. Media reports don\u2019t make this clear, but no allegations of wrongdoing have been lodged against Beltone or any company executive.\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600599,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/04\/beltone-appeal-against-repeated-trade-freezes-in-2016-rejected\/","url_meta":{"origin":635627,"position":1},"title":"Beltone appeal against repeated trade freezes in 2016 rejected","author":"enterpriseam admin","date":"4 February 2019","format":false,"excerpt":"Beltone\u2019s appeal of 2016 trading reversals faces setback: The Board of State Commissioners has recommended to the Administrative Court that it reject Beltone Financial\u2019s claim that the Financial Regulatory Authority and EGX did not have grounds to reverse trades in Beltone\u2019s shares made back in 2016, reports. The FRA had\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":605181,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/24\/fra-rejects-beltones-appeal-of-its-six-month-suspension\/","url_meta":{"origin":635627,"position":2},"title":"FRA rejects Beltone\u2019s appeal of its six-month suspension","author":"enterpriseam admin","date":"24 December 2018","format":false,"excerpt":"The Financial Regulatory Authority (FRA) rejected yesterday Beltone Financial\u2019s appeal of a six-month suspension handed to its investment banking arm over alleged irregularities in the IPO of consumer- and structured-finance player Sarwa Capital, Al Mal reports. The FRA alleges that Beltone inflated subscription figures in the bookbuilding process and claims\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621219,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/04\/fra-suspends-beltones-investment-banking-arm-for-six-months\/","url_meta":{"origin":635627,"position":3},"title":"FRA suspends Beltone\u2019s investment banking arm for six months","author":"enterpriseam admin","date":"4 November 2018","format":false,"excerpt":"FRA suspends Beltone Investment Banking for six months: With barely 30 minutes left in Thursday\u2019s trading session, the Financial Regulatory Authority (FRA) suspended Beltone Financial\u2019s investment banking arm, banning it from carrying out any market activities for a six-month period.Regulator gave no reason for the suspension, which had immediate effect:\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/11\/362.png?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621649,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/14\/heres-what-egypts-market-regulator-claims-beltone-investment-banking-did-wrong\/","url_meta":{"origin":635627,"position":4},"title":"Here\u2019s what Egypt\u2019s market regulator claims Beltone investment banking did wrong","author":"enterpriseam admin","date":"14 November 2018","format":false,"excerpt":"Regulator\u2019s grounds for suspending Beltone\u2019s investment banking license are becoming increasingly clear: The Financial Regulatory Authority (FRA)\u2019s grounds for suspending Beltone\u2019s IPO unit from all market activity for a six-month period have yet to be disclosed, leaving market chatter to fill the vacuum. The suspension came after the FRA received\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2018\/11\/707.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621271,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/05\/egypts-fra-says-suspended-beltones-investment-banking-arm-due-to-irregularities-in-sarwa-ipo\/","url_meta":{"origin":635627,"position":5},"title":"Egypt\u2019s FRA says suspended Beltone\u2019s investment banking arm due to irregularities in Sarwa IPO","author":"enterpriseam admin","date":"5 November 2018","format":false,"excerpt":"** #1 FRA says Beltone suspension was due to \u201cirregularities\u201d in Sarwa IPO: The Financial Regulatory Authority (FRA) suspended Beltone Financial\u2019s investment banking unit for six months after an investigation allegedly found the initial public offering of structured and consumer finance player Sarwa Capital last month was \u201cmarred by some\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/635627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=635627"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/635627\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/635614"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=635627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=635627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=635627"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=635627"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=635627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}