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Raya Holding Board ratifies capital hike by LE126 m, free shares

Raya Holding Board ratifies capital hike by LE126 m, free shares

ArabFinance: Raya Holding For Financial Investment (RAYA) announced in a statement sent to EGX, Board of Directors was convened on September 7.

The board ratified issued capital hike to LE630,586,820 from LE504,624,835 with increase amounting to LE125,961,985. 

The capital hike will be distributed over 25,192,397 shares. 

The company intends to distribute capital hike shares to the shareholders by one free stock for every existing 4 held, at a nominal value of LE5 per share. 

The capital hike will be financed from the delayed profits according to financial results ending December 2016.

It is worth to mention, Raya Holding's shares after capital hike will amount to 126,117,364 shares. 

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