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Raya board approves offering 35m shares on EGX - Daily News Egypt

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Raya board approves offering 35m shares on EGX

30m shares of company capital to be offered in private placement for financially solvent investors


Stock market experts criticised the recent government decision to impose a 0.001% tax on all Egyptian Exchange (EGX) trades (AFP Photo)
Raya Contact Center’s Board of Directors approved offering 35m shares on the Egyptian Stock Exchange (EGX)
(AFP Photo)

Raya Contact Center’s Board of Directors approved offering 35m shares on the Egyptian Stock Exchange (EGX), the company said in a statement to the EGX, Sunday.

A total of 30m shares, or 30%, of the company capital are to be offered in a private placement for financially solvent investors, financial institutions and insurance companies.

The other 5m, representing 5% of the company’s capital, will be offered to the public in a secondary private placement.

Prices of the shares that will be offered have yet to be set, and the company revealed they will be indicated by an independent financial advisor.

The company’s net earnings throughout the first quarter Q1 of 2015 amounted to EGP 6.5m, marking a 10% decrease than what it achieved during the same period the year before.

Raya Contact Center is a subsidiary fully belonging to Raya Holding for Technology and Communications, which manages about 10 subsidiaries forming its diversified portfolio.

The centre provides an array of services including, inside sales channel management and professional services, back office services and contact centre services amongst others.

Raya Contact Center has facilities in Egypt, Dubai and Poland, whereby the company serves its clients by covering Europe, Middle East & Africa & North America.

https://www.dailynewsegypt.com/2015/06/28/raya-board-approves-offering-35m-shares-on-egx/
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