Egypt's Beltone Private Equity will offer shares of Beltone Capital, which it manages, worth LE1 billion ($131.06 million) on the Egyptian stock exchange in the last quarter of this year, a partner said on Thursday.
Beltone Capital is a private equity company owned by a number of Egyptian and Arab investors. It owns about 8 percent of Egyptian developer Medinet Nasr and 19 percent of Total Egypt, a subsidiary of French oil major Total.
"The offering will take place in the final quarter of 2015 in order to raise LE1 billion of capital," said Sharif el-Akhdar, partner at Beltone Private Equity, a sister company of Beltone Financial.
Beltone Capital, formed in 2006, has capital of LE584 million.
Beltone Financial and Citibank will serve as issuing managers, said Akhdar.
The proportion of Beltone Capital shares that will be publically traded is yet to be determined, he said.
