Raya Holding Awaits EFSA’s Approval For EGM On Free Stocks Distribution

Raya Holding for Technology and Communications (RAYA.CA)’s board said it will be inviting the shareholders for an extraordinary general meeting (EGM) so as to discuss distributing bonus shares alongside amending Articles No. 6 and 7 of Raya’s regulations.

It further added that the invitation will not be published until the Egyptian Financial Supervisory Authority (EFSA) approves Raya’s disclosure form, as per Article No. 16 of Listing Rules.

The firm has also announced on Monday that Ahmed Farouk El Katamy increased his stakes in  Raya’s capital to 6.39%.

Raya had announced that Ahmed Farouk El Katamy raised his ownership to 6.39% of its capital.