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Beltone Capital to hold private stock issuance, construct $100m solar station - Daily News Egypt

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Beltone Capital to hold private stock issuance, construct $100m solar station

50 MW solar energy facility will be in cooperation with Total Egypt


The Egyptian stock Exchange witness first signs of recovery since the beginning of Ramadan (DNE PHOTO)
The stock market offering is managed by Beltone Financial Holding and Citibank.
(AFP PHOTO/KHALED DESOUKI)

Beltone Captial will hold a private issuance for some of its shares in the stock market during 2015 at the value of $100m- $120m, Hazem Barakat, chairman of Beltone Private Equity, which manages Beltone Capital, told the Daily News Egypt Monday.

The stock market offering is managed by Beltone Financial Holding and Citibank.

Barakat stated that the value of the Beltone Capital is still under assessment, adding that he expects the shares issued to range between 30% and 40%.

Discussing future investment opportunities, Barakat stated that the company will invest some $100m in a solar energy station with its partners Total Egypt.

“We got the qualifications’ approval from the Ministry of Electricity,” Barakat said.

The estimated energy produced from the solar station is expected to be 50 mega watts.

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https://www.dailynewsegypt.com/2015/01/26/beltone-capital-hold-private-stock-issuance-construct-100m-solar-station/
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