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Raya Holding to increase stake in Makarony Polskie

Raya Holding to increase stake in Makarony Polskie

ArabFinanceRaya Holding Company for Financial Investments (RAYA) will indirectly acquire 461,300 shares of Poland based company Makarony Polskie, according to Raya’s statement released on June 23rd.

Raya will increase its stake in Makarony Polskie through Madova Sp Z O O to 24.38% from 19.39% at $820,000 (EGP 12.841 million).

Makarony Polskie is specialized in the manufacture of automatic pasta.

The listed company’s ordinary general assembly approved annual cash dividends to shareholders of EGP 0.045 per share for the financial period ending March 31st.

Established in 1999 and listed on EGX in 2005, Raya operates within the software and services sector, focusing on information technology consulting and other services. It has subsidiaries operating across North America, the British Islands, Northern Africa, Western Africa, and the Middle East.

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