Raya Holding Company for Financial Investments has agreed to establish a Mazaya platform for the distribution of modern electronic devices, with an initial capital of £ 10 million.
Raya Holding said in a statement sent to the Egyptian Stock Exchange on Monday that the board had unanimously agreed to authorize the Raya Distribution Company subsidiary to continue with the procedures for establishing a new company under the name Mazaya for Trade and Electronic Distribution.
The council, held on May 15, set the authorized capital of the new company at around one billion pounds, while the issued capital will initially amount to 10 million pounds.
The new company is scheduled to work on the establishment of an advanced digital platform called Mazaya, to provide services for the distribution and delivery of electronic and electrical devices, mobile phones and mobile communication devices in an integrated electronic form directly to retailers .
The platform will also provide a smart credit facility that will make it easier for the retailer to obtain the products he is aiming for in a fast and modern way that keeps pace with the digital transformation brought about by the world and the Egyptian local market in the particularly seen.
Raya Holding agrees to raise the capital of two subsidiaries with EGP 150 million
On March 10, Raya Holding’s board of directors agreed to increase the capital of two subsidiaries by a total value of £ 150 million.
The company said in a statement sent to the stock exchange on March 13 that the board had approved an increase in Raya Distribution’s paid-in capital with EGP 100 million, while approving an increase in Raya Foods’ capital with EGP 50 million. .
The current capital of Raya Distribution Company is £ 320 million, which is scheduled to increase to £ 420 million, while Raya Foods’ capital is £ 290 million, which will increase to £ 340 million.
Raya said this increase comes within the framework of supporting financing expansion and investment activities and the financing of working capital in affiliated companies.
Restructuring of three networks in the field of networks and electronic services
The Board also agreed to transfer ownership of 3 subsidiaries: Raya Network Power, Raya Networks and Raya Data Center Services to another unrestricted subsidiary “Raya Systems”.
The company explained this internal structure by its desire to strengthen its leadership position in the technology and digital services sector in Egypt and the Middle East.
Raya Holding operates in Egypt, Saudi Arabia, the UAE, Qatar, Poland, Nigeria and Tanzania, and has more than 11,000 employees. This is a company that has been listed on the Egyptian Stock Exchange since 2005 (establishment of 1990).
Raya includes ten subsidiaries operating in the fields of information technology, data center outsourcing and communications centers. It also operates in the fields of smart buildings, consumer electronics, food and beverage, road transport, plastic recycling and electronic payment methods.
Over the past year, Raya has gone out of several subsidiaries, also selling stakes in other companies as part of a restructuring of its group of companies, and recently increased its stake in a Polish pasta company.
On May 4, Raya announced that it had signed a contract to sell its subsidiary, BariQ Advanced Industries Technologies, to Intro Waste Management and Recycling Holding Company, with a total value of EGP 490.7 million.
On 20 April 2020, he also agreed to sell his stake in Ostool, which specializes in land transport, to Paradigm Logistics Ltd, with a total value of £ 266.5 million.
Acquisition of a stake in Polish Makaroni Polski worth $ 820,000 last November
On November 25, Raya announced the approval of the Polish government to buy an additional share equal to 4.99% of the shares of the Makroni-Polsky Company, with a total value of approximately $ 820,000.
The company said in a statement to the stock exchange at the time that the Madova subsidiary had obtained the necessary approvals and the transaction was carried out on the Polish Warsaw Stock Exchange.
On June 22, the Raya board authorized Madova to buy the above-mentioned stake in Makroni-Polsky and complete all necessary procedures for the acquisition in Poland.
Macaroni Polski, listed on the Warsaw Stock Exchange, is a company listed on the Warsaw Stock Exchange, and Raya acquired 19.39% of its shares indirectly through Madova Corporation (this share rose to 24.38% after the transaction). ).
It is scheduled to share the banner of an upcoming subscription to increase the capital of the Makroni-Polsky company in order to fund the company’s new expansion plans.
Madova’s contribution to the subscription will amount to $ 2.1 million, and the company expects this amount to benefit shareholders in the form of greater financial returns in the short and medium term.
Raya Holding’s performance shifted to profitability with EGP 541 million in 2021
The latest business results from Raya Holding showed that it changed profitability by 541.3 million pounds during the past year 2021, compared to losses of 45.6 million pounds during the previous year 202.
The company’s consolidated results sent to the Stock Exchange on Sunday revealed that its revenue had risen to £ 16.8 billion in 2021, compared to £ 10.7 billion in 2020.
Activity costs also rose to £ 13.9 billion last year, compared to £ 8.77 billion during the previous year 2020.
While the parent company’s independent lists showed that it changed profitability by 445.7 million pounds in 2021, compared to losses of 115 million pounds during 2020.
On January 3, Raya Holding announced the distribution of new cash dividends to shareholders at a value of EGP 0.06 per share, to be paid on January 18.
The company’s current capital (issued and paid) is £ 1.07 billion, spread over 2.1 billion shares, with a face value of £ 0.50 per share.
Its ownership structure is divided between the family of Medhat Khalil, the company’s president, the Al-Taweel family, the International Investment Holding Company Ltd., and others, according to the data available on the company’s website.