Raya Holding (RAYA) announced the transfer of its ownership in three companies to its subsidiary, Raya IT in the OTC market with a total value of EGP 17.1 million.
Raya Holding & Raya Systems
The three companies are: Raya Network Power, Raya Networks & Raya Data Center.
Raya Holding operates in several sectors including information technology, data centers, contact centers, smart buildings, consumer electronics, food, & industrials.
The company will study its position on Raya IT whose capital exceeds EGP 300 million, as it is likely that the company will be listed on EGX or that new investors will enter the ownership structure.
Why this matters
The company seeks to restructure its information technology sector to be under “Raya IT”. This comes within Raya’s strategy to arrange the investment group’s subsidiaries.
