Raya Holding nods capital hike by LE 126M

CAIRO – 10 September 2017: Raya Holding for Financial Investment’s board approved Sunday increasing its issued capital by LE 126 million ($7.1 million), a stock market filing said.

The capital will be raised to LE 630.6 million up from LE 504.6 million through bonus shares issue.

The capital hike will be distributed over 25.19 million shares at a nominal value of LE 5; so that the company’s shares will total 126 million.

The company noted that the increase will be financed from the deferred profits in the financial statements of the year that ended on December 31, 2016.