Cairo – Mubasher: Raya Holding for Financial Investment’s (RAYA) board of directors on Sunday agreed on raising the capital of eight subsidiaries with a total value of EGP 484 million.
The board approved increasing Raya Leasing Co’s capital with EGP 200 million and Raya Distribution’s capital with EGP 100 million, Raya highlighted in a bourse filing.
The board also approved an EGP 50 million capital increase of Aman microfinance and an EGP 45 million capital hike for Aman Electronic Payment, according to the statement.
Raya for Food and Beverage’s capital also has been raised with EGP 40 million, while Aman Financial Services has been lifted with EGP 20 million, the company added.
Raya also approved an EGP 20 million and an EGP 9 million capital increase for the International Union for Integrated Food Industries and Raya Restaurants, respectively.
Raya last posted an EGP 32.3 million net profit in the three months ended September 2017, up from EGP 22.6 million in the corresponding period of 2016.
In the first nine months of 2017, Raya's net profit surged 36.5% to EGP 87.9 million from EGP 64.4 million in the prior year period.
Raya’s capital amounts to EGP 504.6 million distributed over 100.9 million shares at a nominal value of EGP 5 per share.
