Orascom Financial Holding (OFH), a privately-owned investment company linked to Egypt’s Sawiris family, has trimmed its stake in Belton Financial Holding SAE to 59.22 percent from 61.24 percent.
In a recent statement filed with the Egyptian Exchange, OFH said it sold 9 million shares at EGP 2.34 ($0.15) per share, totaling EGP 21.086 million ($1.34 million).
OFH is a technology-driven financial services investment company that seeks to invest in companies transforming the traditional financial services industry with innovative products and services.
The company was founded in 1997 by the late Onsi Sawiris, a member of Egypt’s billionaire Sawiris family.
The billionaire was known for co-founding and serving as a managing partner of HOF* Capital (alongside Fady Yacoub and Hisham Elhaddad) with an AUM** of $200 million. At HOF, he focuses on cloud-based technologies, fintech and enterprise SaaS.
OFH is currently led by his son, Naguib Sawiris.
Belton Financial Holding SAE
Beltone Financial Holding SAE is an Egypt-based company, which operates within the diversified financial sector focusing on investment banking and brokerage.
The company provides brokerage services, asset management, investment banking, liquidity services in regional markets, and research and analysis services.
The company is developing an online trading platform, Beltone Trade, which provides services ranging from access to fundamental analysis on the country and up-to-date information to customizable conditional alerts, watchlists and screens.
*HOF Capital is a venture capital firm backed by 70 of the world’s most influential families and organizations.
**Assets under management (AUM) is the total market value of the investments that a person or entity handles on behalf of investors.