Egypt's Raya Holding okays cash dividends to shareholders

Raya Holding is poised to issue $37.35mln securitization bond for its subsidiary, Aman Financial Services, to finance its expansion plan

  
Traders work at the Egyptian stock exchange in Cairo, Egypt, December 3, 2015.

Traders work at the Egyptian stock exchange in Cairo, Egypt, December 3, 2015.

REUTERS/Mohamed Abd El Ghany
 

Egypt - Raya Holding Company for Financial Investments’ (RAYA) ordinary general assembly approved annual cash dividends to shareholders of EGP 0.045 per share for the financial period ending March 31st, according to the company’s statement released on June 21st.

Raya Holding is poised to issue EGP 585 million securitization bond for its subsidiary, Aman Financial Services, to finance its expansion plan.

The company has also prepared the prospectus for the subscription of the securitization bonds program to be issued and sent it to the Financial Regulatory Authority (FRA) for approval.

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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