Arab Finance: The subscription to Beltone Financial Holding’s capital increase was 5.49 times covered in the second phase, representing 100.434 million shares of the total offered shares, according to a filing on July 18th.

The company stated that 18.22% of the total offered shares were allocated to the subscribing shareholders.

Accordingly, subscription to the total offered shares of 5 billion shares worth EGP 10 billion has been completed.

It is worth noting that the first phase of Beltone Financial’s rights issue for the capital increase was subscribed at a coverage ratio of 97.99%.

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