November 4, 2018 / 7:36 AM / 10 days ago

Egypt's Sarwa Capital exposed to IPO "irregularities" -regulator

CAIRO, Nov 4 (Reuters) - Egypt’s financial regulator suspended the IPO unit of Egypt’s Beltone Financial Holdings after finding that Sarwa Capital had been exposed to irregularities in IPO procedures, the regulator’s deputy head said on Sunday.

Beltone managed the IPO of Sarwa Capital last month. Its IPO unit was suspended from carrying out any activity for six months on Thursday. (Reporting by Ehab Farouk Writing by Aidan Lewis Editing by Catherine Evans)

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