Cairo-Mubasher: Raya Holding for Technology and Communications said that its board has given an initial approval for selling its stake in Tenth of Ramadan Pharmaceutical Industries (RAMEDA), according to a bourse statement.
The company said that about 46,470 shares will be sold for EGP 117.26 million, if the deal is closed.
Raya has acquired 28.8% stake in RAMEDA in 2011. The acquisition was for total shares of 120,000 with a nominal value of EGP 1000 and a maximum of EGP 1,789.93 per share.
