Raya Holding (Raya) Chairman Medhat Khalil bought an additional 26.7% (56.919mn shares) stake in Raya Holding through his El Pharonia Real Estate Investment for EGP314.8mn in a mandatory tender offer (MTO). “We don’t have any intentions to delist from the stock market,” Raya Group CFO Hossam Hussein told Enterprise. “This was apparent in the proposal of the main shareholder in which he asked to buy 90% of the company’s shares – it was intentional to leave 10% of the company’s shares free-floating so that the company would continue to be on the exchange,” he said. The company’s expansion plans will be focused on non-banking financial services, manufacturing and food production, he added.
This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us and our partners to provide you with more relevant ads . Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. For more information about the cookies used on this site, see Privacy Policy.
Decide which cookies you want to allow.
Strictly Necessary
These cookies are essential in order to enable you to move around our website and use its features, such as accessing secure areas of our website. Without these cookies, any services on our Site you wish to access cannot be provided.
Analytical/performance cookies
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages.