Cairo – Mubasher: Raya Holding for Financial Investment has purchased 300,000 shares (10.27%) in Haier-Raya Electric for a total value of EGP 47.74 million or EGP 159.14 per share.
Following this transaction, Raya Holding owned 100% of Haier-Raya Electric’s capital directly and indirectly, according to a bourse statement on Monday.
The EGX-listed firm has completed all required legal procedures and obtained approvals from competent authorities, including the Financial Regulatory Authority (FRA) and the Egyptian Exchange (EGX) to complete the transaction.
During the first half (H1) of 2022, the profits of Raya Holding amounted to EGP 170.13 million, compared to EGP 151.89 million in H1-21.
Revenues of the EGX-listed firm reached EGP 9.12 billion during the six-month period ended 30 June 2022, an increase of 10% when compared to EGP 8.27 billion in the same period in 2021.
