Cairo – Mubasher: Raya Holding for Financial Investment commented on reports about obtaining a loan valued at EGP 1.10 billion for its subsidiary Raya Information Technology Company.
Raya Integration, the parent company of the information technology sector within the listed group, is negotiating for a medium-term syndicated loan, according to a bourse statement.
In line with the company’s growth plans, the financing will be structured as credit limits to facilitate the issuance of bank letters of guarantee.
The facility deal aims to expedite the implementation of the company's new projects, particularly in the field of technical solutions. It will also boost the establishment of information infrastructure for the clients in the banking sector, as well as the communications and information technology sectors.
In the first half (H1) of 2023, Raya Holding logged consolidated net profits after tax valued at EGP 350.39 million, an annual rise from EGP 170.13 million, including minority interest.
