Cairo – Mubasher: Raya Holding for Financial Investments said that it hasn’t submitted an official request to the Financial Regulatory Authority (FRA) to approve its subsidiary BariQ’s EUR 40 million green bond issuance.
The boards of directors of the two companies haven’t taken a decision yet regarding the issuance, Raya Holding said in a bourse filing on Monday.
The company denied news reports about obtaining the FRA’s approval for the bond issuance.
During the first six months of 2020, Raya Holding suffered net losses of EGP 95.529 million, up from EGP 50.944 million in the same period in 2019.
