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Arabia Investments increases capital of 2 units

Arabia Investments increases capital of 2 units
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Arabia Investments Holding
AIH
-0.59% 0.50 -0.00

Cairo – Mubasher: Arabia Investments Holding decided to increase the capital of its subsidiary Rawaj Consumer Finance by EGP 35 million, according to a bourse statement.

Furthermore, the listed company will back the liquidity of its unit UE Finance through an EGP 70 million capital raise.

Earlier this month, Jaf Investment Company acquired stakes in Rawaj Consumer Finance and UE Finance at a combined value of EGP 177 million.

In the first nine months (9M) of 2023, Arabia Investments Holding posted lower consolidated net profits after tax at EGP 28.44 million, compared to EGP 47.01 million in 9M-22, including minority interest.