{"id":657715,"date":"2024-12-25T00:00:00","date_gmt":"2024-12-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/25\/beltone-holding-announces-egp-10-75-bn-capital-increase\/"},"modified":"2024-12-25T00:00:00","modified_gmt":"2024-12-25T00:00:00","slug":"beltone-holding-announces-egp-10-75-bn-capital-increase","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/25\/beltone-holding-announces-egp-10-75-bn-capital-increase\/","title":{"rendered":"Beltone Holding announces EGP 10.75 bn capital increase"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Beltone to move forward with another mega capital increase: <\/strong>Beltone Holding will increase its capital by EGP 10.75 bn after its board greenlit the move, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2222.pdf\" style=\"\" rel=\"noopener\">sta<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2234.pdf\" style=\"\" rel=\"noopener\">tement (<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/12\/2222.pdf\" style=\"\" rel=\"noopener\">pdf)<\/a>. The move supports Beltone\u2019s growth strategy to strengthen its market position, leveraging data science to expand its financial services and expand its product offerings. The capital increase will be one of the largest ever on the EGX.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Its second massive capital increase in as many years: <\/strong>Beltone <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/415bf354-a92f-4abc-816f-129a1a31875b\/%253cmark%253ebeltone%253c%2Fmark%253e%25e2%2580%2599s-record-egp-10-bn-capital-increase-closes,-sees-foreign-institutions-take-stakes\" style=\"\" rel=\"noopener\">completed a mega EGP 10 bn capital<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/415bf354-a92f-4abc-816f-129a1a31875b\/%253cmark%253ebeltone%253c%2Fmark%253e%25e2%2580%2599s-record-egp-10-bn-capital-increase-closes,-sees-foreign-institutions-take-stakes\" style=\"\" rel=\"noopener\">increase<\/a> on the EGX last year, which was met with major demand. This came shortly after Abu Dhabi-based investment company Chimera Investments acquired 56% of the company In 2022 and recruited an all-new team of senior execs, including Dalia Khorshid as CEO.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moves in the right direction: <\/strong>The fresh faces and its transformation into a data-driven organization helped Beltone <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/144ac888-326d-49ec-b9f7-1598214cbdcd\/%253cmark%253e%253c%2Fmark%253ebeltone%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eturns%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253eprofitable%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253ein%253cmark%253e%253c%2Fmark%253e-%253cmark%253e%253c%2Fmark%253e2023%253cmark%253e%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">turn profitable in 2023<\/a> and expand as an end-to-end financial services giant. Its most recent earnings show Beltone <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/62f51463-2b33-4f10-8ac2-8eadbb0f3c15\/%253cmark%253ebeltone%253c%2Fmark%253e-holding,-palm-hills-developments,vodafone-egypt,-and-raya-cx-report-earnings\" style=\"\" rel=\"noopener\">recording EGP 1.1 bn in net income<\/a> during the first nine months of 2024, up from EGP 86 mn during the same period last year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Keep your eyes peeled: <\/strong>We expect more details about the capital increase to trickle through over the coming few days. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cThis decision represents a significant step in accelerating our data-driven strategy and sustainable growth,\u201d Khorshid said. \u201cBy further leveraging technology and artificial intelligence, along with investing in human capital, we are committed to achieving a transformational impact in the financial services sector creating long-term value for our shareholders,\u201d she added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Beltone completed a mega EGP 10 bn capital increase on the EGX last year<\/p>\n","protected":false},"author":1,"featured_media":657716,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7303],"tags":[812,72,503],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-657715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-capital-markets","tag-beltone-financial","tag-enterpriseam","tag-financial-services","wpautop","entry"],"acf":{"mongo_id":"eb629527-b901-4123-8ce5-7abbb317c0cb","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/1175.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Beltone Holding announces EGP 10.75 bn capital increase","related_issue":[657707],"teaser":"Beltone completed a mega EGP 10 bn capital increase on the EGX last year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.6514bd12-8e42-4674-af1b-fae909cfb8d6.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Beltone Holding announces EGP 10.75 bn capital increase - 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\/2024\/12\/25\/beltone-holding-announces-egp-10-75-bn-capital-increase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Beltone Holding announces EGP 10.75 bn capital 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WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/1292.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590442,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/19\/beltones-record-egp-10-bn-capital-increase-closes-sees-foreign-institutions-take-stakes\/","url_meta":{"origin":657715,"position":3},"title":"Beltone\u2019s record EGP 10 bn capital increase closes, sees foreign institutions take stakes","author":"enterpriseam admin","date":"19 July 2023","format":false,"excerpt":"Second phase of rights issue was c. 5.5x oversubscribed","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/800.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593487,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/28\/fra-approves-beltone-financial-capital-increase-to-pay-off-oih-debt\/","url_meta":{"origin":657715,"position":4},"title":"FRA approves Beltone Financial capital increase to pay off OIH debt","author":"enterpriseam admin","date":"28 November 2019","format":false,"excerpt":"The Financial Regulatory Authority (FRA) has approved Beltone Financial\u2019s planned capital increase to EGP 898 mn from EGP 338 mn through a rights issue of 280 mn shares at EGP 2 apiece, according to a FRA disclosure to the EGX (pdf). The capital increase will allow Beltone to pay off\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":595750,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/05\/beltone-financial-shareholders-approve-capital-increase-to-egp-898-4-mn\/","url_meta":{"origin":657715,"position":5},"title":"Beltone Financial shareholders approve capital increase to EGP 898.4 mn","author":"enterpriseam admin","date":"5 August 2019","format":false,"excerpt":"Beltone Financial shareholders have approved a capital increase to EGP 898.4 mn from EGP 338 mn, the company said in an EGX disclosure (pdf).","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"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\/657715","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=657715"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/657715\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/657707"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/657716"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=657715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=657715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=657715"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=657715"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=657715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}