
Raya Holding enters Saudi Market with $26.6 million Jarir partnership
This reflects the conglomerate’s ambition to broaden its regional presence and highlights its dedication to diversifying financial services across the Middle East.
This reflects the conglomerate’s ambition to broaden its regional presence and highlights its dedication to diversifying financial services across the Middle East.
As a result of the double-digit share price increase, the market value of Medhat Khalil’s stake has risen to $28.89 million from $24.66 million.
The company’s recently released financial statements reveal a significant revenue increase of 53.31 percent, from $429.22 million in 2022 to $650 million in 2023.
Khalil owns a majority stake of 58.1 percent in Raya Holding, holding a total of 1,245,661,205 shares in the group.
The recent surge solidifies his position as one of the high-value investors on the Egyptian Exchange and one of the country’s wealthiest individuals.
Executives within Raya Holding emphasized that the IPO is designed to provide potential investors with an opportunity to acquire a stake in Raya Information Technology.
Khalil owns a majority stake of 58.1 percent in Raya Holding — a total of 1,245,661,205 shares.
Raya Holdings is an investment group.
Khalil owns 58.1 percent of Raya Holding for Financial Investments.
Raya CX will provide outsourcing services to Zain KSA.