EGX requests disclosure from Beltone Financial on uses of a loan from OTMT
According to unnamed sources, the Egyptian Exchange (EGX) has requested from Beltone Financial [BTFH.CA] disclosure of the uses of the loan obtained from OTMT [OTMT.CA]. According to Daily News Egypt, the loan will be used to finance the CI Capital acquisition, pending the approval of the Egyptian Financial Supervisory Authority (EFSA). It is worth noting that OTMT held talks with local banks over a EGP1.0 billion loan earlier this year. (Daily News Egypt) OTMT: EGP0.54 as of 14 January 2016, Rating: Sell, FV: EGP0.53 per share, MCap: USD362 million, OTMT EY / OTMT.CA
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