Raya Holding’s Board of Directors approve a stock-split initiative that aims to enhance the overall stock liquidity and performance

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     Raya Holding for Financial Investments SAE announced today that its Board of Directors has approved a stock-split initiative that aims to enhance the company’s stock liquidity and trading performance on the Egyptian Stock Exchange (EGX). The purpose of the initiative is to further diversify the shareholders’ base along with the subsequent enhancement of the company’s overall stock liquidity; which is expected to boost the overall demand by institutional and retail investors whom are eager to invest into liquid securities trading on the Egyptian Stock Exchange. Ahmed Khalil – CEO Raya Holding for Financial Investments SAE- commented on such initiative, confirming that the primary objective is to enhance the performance of the company’s stock in the market, and to ensure an elevated level of responsiveness between the stock price and the company’s financial and operational performance and related positive developments across the company’s diverse lines of business. As such, the company’s board of directors unanimously approved the stock-split proposal, to encourage and enhance the overall trading performance of the Company’s shares on EGX. The board also approved to proceed immediately with the related procedures for splitting the nominal value per share (which is currently Five Pounds per share) with a ratio of ten to one (10 : 1), subsequently resulting in an adjusted nominal value of Fifty Piasters per share. The Board of Directors also approved calling for an Extraordinary General Assembly (EGM) meeting to ratify such initiative, and amend the company’s articles of association accordingly. The Board also delegated the company’s Chairman to determine the date and place of the EGM and to decide upon all necessary legal and regulatory procedures related to the meeting’s commencement.



    حمّل تطبيق Alamrakamy| عالم رقمي الآن