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AIH’s shareholders approve subsidiary’s capital raise

AIH’s shareholders approve subsidiary’s capital raise
The company owns 99.99% of the two companies
Arabia Investments Holding
-0.83% 0.36 -0.00

Cairo – Mubasher: The extraordinary general meeting (EGM) of Arabia Investments Holding (AIH) approved a proposal to increase the capital of RAWAJ Auto Finance through its fully-owned subsidiary UE Finance.

Before the capital increase, the company's stake in the two companies stands at 99.99%, according to a bourse disclosure on Sunday.

The size of the capital increase hasn’t been disclosed.

In addition, the company reformed its board of directors to be chaired by Gamal Abdel Fattah Othman.

It is worth mentioning that in 2019, the company’s net profits rose to EGP 82.48 million from EGP 72.77 million a year earlier.