Cairo – Mubasher: Raya Contact Center announced that the fair value (FV) of Gulf Customer Experience has been estimated at $15.68 million. 

The study, prepared by Solid Capital for Financial Advisory, estimated the FV of the Bahraini firm's share at $39.71, Raya said in a statement to the Egyptian Exchange (EGX) on Sunday. 

In late August, Raya's board of directors approved a decision to proceed with the acquisition of 85% of Gulf Customer Experience, amounting to 335,829 shares. The Bahrain-based firm operating in the business process outsourcing sector has been valued at $14.32 million.

In the first half (H1) of 2021, Raya Contact Center logged consolidated net profits of EGP 9.75 million, down from EGP 20.6 million in H1-20, including minority shareholders' rights.