PHOTO
The board also approved the transfer of part of its credit portfolio, including consumer loans, to the subsidiary, according to a bourse disclosure on Sunday.
Proceeds from the issuance will be used to meet the company’s financing needs and finance its working capital cycle after obtaining the required administrative, regulatory, and governmental approvals.
Over the course of 2020, Raya Holding incurred consolidated net losses of EGP 45.68 million, down from EGP 85.1 million a year earlier, including minority shareholders’ rights.
All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).