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Thursday, 12 May 2016

EFSA to bring charges of stock manipulation on some traders in Beltone shares

The Egyptian Financial Supervisory Authority (EFSA) will bring charges of market manipulation against some traders in Beltone Financial’s shares after the stock hit record highs for weeks on end, according to Al Mal, which revealed no details of the allegations. The EGX had been reversing trades on Beltone’s shares for weeks now on an almost daily basis due to suspicions of stock manipulation, prompting Beltone to file a complaint against the EGX with EFSA on 28 April.

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