Raya Holding Plans to Open 4 Fresh Branches in Retail Sector This Year

Raya Holding Company is aiming to inaugurate four branches operating in retail sector within the current month.

Eng. Medhat Khalil, CEO and Board of Directors of Raya said his company is targeting to launch four branches in Cairo, Alexandria through a huge branches of ‘Mega Stores’.

He has informed Amwal Al Ghad in an exclusive that the stability which the market is currently witnessing will contribute in recovering the retail sector, noting that Raya will focus on the availability of installments of all the devices in order to allure large number of customers and categories.

Raya is planning to boost its capital by EGP100 million for enhancing its investments in call centers and restaurants.

Amwal Al Ghad quoted Khalil, that the increasing of its capital will be through shareholders to buy new shares expected to be completed during the next February.

Khalil explained that Raya is aiming to launch restaurant chains within the current year, starting with ‘Raya Plaza’ that affiliated to the company in Sixth of October city.

The board of directors of Raya approved to file proposal for the general assembly regarding boosting the capital of Raya which issued in an authorized limit from EGP375.52 million to EGP470.52 million, move up by EGP100 million via a call for underwriting in additional shares at par value per share.

worth mentioning that Raya has recently obtained the approval for increasing its issued capital from EGP321.117 million to EGP370.520 million, recording an increase of EGP49.402 million, distributing on 9.880.552 shares with EGP5 Par value.

The business results of Raya during the first nine months of 2013 revealed that it reached EGP28.993 million net profits compared to EGP13.24 million in the previous year of 2012, move up by 119%.

Raya is working for technology and communications and it has several branches across the Middle East including Saudi Arabia, UAE, Qatar and Kuwait, in addition USA branch.