A prominent financial institution (Beltone Holding) has announced the successful completion of its second capital increase, raising EGP10.5 billion with a strong 98% subscription rate. This significant achievement underscores the confidence of both shareholders and the broader market in the Company’s growth trajectory and robust market position.
Notably, a significant portion of the subscribed capital originated from foreign investments, highlighting the strong conviction of international investors in the Company’s strategy for sustainable expansion.
The Group CEO and Managing Director commented, “This second capital increase represents a pivotal moment in our growth journey, reflecting the trust placed in us by our shareholders and the market’s recognition of our strong and impactful growth. Driven by a data-centric approach and a high-performing team, we are accelerating growth across our various platforms, with a strong emphasis on strategic expansion, the integration of Artificial Intelligence, and digital transformation initiatives.”
The newly secured capital will be strategically allocated to fuel the Company’s growth across its diverse platforms. Key areas of focus include expansion into high-potential markets, the enhancement of digitally scalable capabilities, the broadening of its product suite, and the recruitment of top-tier talent to further drive operational excellence and innovation.
In the fiscal year 2024, the Company reported record financial performance, indicating a strong transition into a growth phase. Consolidated operating revenues reached EGP7.2 billion, demonstrating a near fourfold year-on-year increase, while net profit surged 4.6 times year-on-year to over EGP1.7 billion. This exceptional performance was driven by strong contributions across the Company’s platforms, with the Non-Banking Financial Institutions (NBFIs) platform generating EGP5.8 billion in operating revenues (an almost sixfold year-on-year increase) and the Investment Banking platform recording revenues of EGP1.3 billion (a 2.4 times year-on-year increase).
This successful capital raise strengthens the Company’s position as a forward-looking financial leader, committed to delivering sustainable growth and creating value for all its stakeholders.
FABMISR served as the Subscription Receiving bank for this capital increase.
