Sheikh Khaled Zayed S. Al Nehayan, Chairman of Dubai listed AlFirdous Holding, raised his holding in Cairo listed Beltone Financials, to 3.48 percent, the company said in a statement to Egypt's bourse on Monday.

Al Nehayan bought almost 1.5 million shares for LE18.59 per share last Thursday.

Beltone financial is a middle east investment bank based in Egypt. Its share price increased 2.31 percent to LE18.95 at 2.07 p.m. Cairo Local Time on Monday.