Raya Holding Plans to surge its Capital EGP100 mln for Call Centers, Restaurants

Senior sources informed Amwal Al Ghad that Raya Holding Co is planning to boost its capital by EGP100 million for enhancing its investments in call centers and restaurants.

Amwal Al Ghad quoted Eng. Medhat Khalil, Chairman and CEO of Raya 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.

It is 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%.

Rays 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.