CAIRO, July 6 Egypt's Beltone Financial
and billionaire Naguib Sawiris were offered 48 percent
of the shares they were seeking for a 20-percent stake in
investment bank EFG Hermes, traders said on Sunday,
the last day of the offer period.
Beltone and Sawiris's New Egypt Investment Fund had offered
around $257 million for the EFG stake at 16.00 Egyptian pounds
($2.24) per share, but an independent financial advisor set the
fair share price at 22.93 pounds.
Traders said the bid consortium attracted offers for 54.4
million shares at 16.00 pounds.
($1 = 7.1501 Egyptian Pounds)
(Reporting By Ehab Farouk; Writing by Shadia Nasralla)