Cairo – Mubasher: Medhat Mohamed Ibrahim Khalil, Chairman of Raya Holding for Financial Investment, lowered his stake in the company’s shares to 17.67% from 18.37%.

Khalil sold 15 million shares in exchange for EGP 15.99 million at a nominal value of EGP 3.99 per share, according to a bourse disclosure.

Al Ahly Pharos for Securities Brokerage was the broker for the transaction that was concluded on 24 June 2024.

In the first quarter (Q1) of 2024, Raya Holding recorded consolidated net profit after tax and minority interest amounting to EGP 330.95 million, higher than EGP 142.97 million in Q1-23.

As for the standalone business, the company shifted to net losses worth EGP 173.38 million in Q1-24, against net profits valued at EGP 216.56 million during the same period in 2023.