The board of directors of Egyspt-based private asset manager Beltone Capital has decided to increase the company’s paid-in capital from GBP466m to GBP932m to support investments and expansion, reported Reuters citing Hazim Barakat, chairman of the firm.
Mr Barakat said that the new capital would be paid over four stages and the first stage of the capital increase will be carried out through a subscription of old shareholders of 25% of their existing paid in shares.
He added that the capital increase aims to facilitate the company’s expansion plans during the near future, particularly considering the number of promising investment opportunities available. Beltone Capital intends to limit its investments to GBP100m each, but may increase the size of its purchases by bringing in its shareholders to co-invest, reported the news agency.
