CAIRO: Egyptian investment bank Beltone Financial will discuss the possibility of splitting its shares today, it said in a statement to the Cairo stock exchange. Last week Beltone said that, together with a group of investors, it was seeking a 20 percent stake in investment bank EFG Hermes in a $257m deal. Egyptian billionaire Naguib Sawiris is backing the deal. Beltone’s shares were up almost 10 percent at 1023 GMT to trade at 30.11 Egyptian pounds.
The company did not give any details about the possible stock split, such as how many shares each existing share could be divided into or the reasons for it. Beltone’s share price has shot up by more than 82 percent so far this year. Reuters
