Cairo – Raya Holding for Financial Investments announced the sale of 9 million shares of its 99.8%-owned subsidiary Aman Electronic Payment Technology to the National Bank of Egypt (NBE).

The NBE acquired 24% of Aman for EGP 480 million or EGP 53.33 per share, Raya Holding said in a bourse disclosure on Sunday.

On 31 December 2020, Raya Holding announced signing a deal to sell part of its stake in Aman Electronic Payment Technology Company to the NBE.

In 2020, Raya Holding suffered consolidated net losses of EGP 45.68 million, down by 46.3% year-on-year (YoY) from EGP 85.1 million a year earlier, including minority shareholders’ rights.

Source: Mubasher

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