Cairo – Mubasher: Raya Holding for Financial Investment has agreed to sell around 53.95 million shares in its 62.3% subsidiary, Ostool for Land Transportation, to Paradigm Logistics.
Raya will sell its shares in Ostool in exchange for EGP 266.55 million or EGP 4.94 per share, according to a recent bourse filing.
It is noteworthy to mention that in the first quarter (Q1) of 2022, the consolidated net profits of Raya increased by 49.6% to EGP 53.58 million, compared to EGP 35.80 million in the same period of 2021.
