Raya Holding intends to make available a portion of the shares of Raya Information Technology, ranging from 30% to 35%, to potential investors
After the successful closure of this acquisition, Raya Holding will own 90% of Ostool’s capital according to its Egyptian Exchange (EGX) disclosure
Announced in June, the update on the acquisition comes after the BoD received and accepted a report by BDO for Financial Consulting regarding the fair value of B Investments’ share price and the share swap ratio
He added that ACUD will announce partnership opportunities soon with the private sector to implement projects together in the Administrative Capital
The government is working on implementing a well-defined IPO program for government offerings, it explained, with plans to have 35 companies go public or stakes sold to strategic investors by the first half of 2024
