Cairo – Mubasher: Raya Holding for Financial Investment’s board on Sunday approved increasing issued capital by EGP 125.9 million to EGP 630.58 million from EGP 504.6 million through distributing bonus shares on a 1-for-4 basis.

The board has assigned the firm’s chairman to present the capital hike before the company's shareholders at the ordinary general meeting (OGM) and to call for an extraordinary general meeting (EGM) to discuss making amendments to Articles 6 and 7 of the the company’s main statute.

Raya Holding’s currently capital amounts to EGP 504.6 million distributed over 100.9 million shares, with a par value of EGP 5 per share.

By 11:37 am Cairo time, Raya Holding’s stock inched down 0.68% to EGP 11.66.