Raya’s E-payment arm, Aman, will offer stakes in EGX next year

Raya Holding‘s electronic payment arm, Aman for E-payment Services will finish formulating a plan for an initial public offering during 2021, according to its  Chief Financial Officer Hossam Hussein .

Aman can go ahead with the plan now that the National Bank of Egypt (NBE) has entered as a strategic  sharholder, he told Amwal Al Ghad.

The expected stakes that will be offered and the expected value of the share will be determined next year, he noted.

He added that National Bank has started the due diligence process for for Aman minority stake purchas.

Raya has set up Aman Holding  as a parent company to its three non-banking financial service arms — Aman for Financial Services, Aman for E-Payments, and Aman for Microfinance.