Investors show interest in Raya Holding’s unit

The board has neither considered nor approved any offers yet

  
A trader works at the Egyptian stock exchange in Cairo, Egypt, December 3, 2015.

A trader works at the Egyptian stock exchange in Cairo, Egypt, December 3, 2015.

REUTERS/Mohamed Abd El Ghany

Cairo –  Raya Holding for Financial Investment announced that several local and foreign direct investment companies showed interest in acquiring its subsidiary Bariq For Techno & Advanced Industries.

Offers range between injecting new investments or fully or partially acquiring Bariq, Raya said in a statement to the Egyptian Exchange (EGX) on Tuesday.

The board has neither considered nor approved any offers yet.

It is noteworthy that in 2019, Raya Holding turned to losses of EGP 85.103 million, against net profits EGP 89.122 million, including minority shareholders’ rights.

Source: Mubasher

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