Cairo – Mubasher: Beltone Financial Holding announced that the second of phase of its right issue was subscribed by around 3.58 times.
The right issue's second phase allocation ratio hit 4.94% for 4.94 million shares remained from the first phase, at par value EGP4 each.
The company's right issue was covered 95.06% in the first phase, with a subscription of 95.06 million total shares for a total value of EGP 190.1 million.
Accordingly, the firm's right issue is covered by 100%.
Beltone posted an increase of 38.9% to EGP 5.7 million in net profits for the first quarter of 2015, up from EGP 4.1 million for the same period of the previous year.
