Raya Holding Company for Financial Investments has announced it has received offers from several foreign and local investors for its subsidiary company, Bareeq Tech. This includes offers to inject new investments into the company, with other offers being for the partial or total acquisition of the company.
In a press statement on Tuesday, Raya Holding added that the investment offers were aimed at accelerating the company’s growth process and increase its business volume. The acquisition bids came as part of efforts for a partial or total share in the company.
The statement also said that the company’s board of directors has not considered the matter and will only study it when the investment or purchase offers are made by investors. In case this happens, an emergency board meeting would be held to consider the offers.
Any decisions or further information will be disclosed once made by the company’s board of directors, in line with the Egyptian Exchange’s (EGC) disclosure rules, the statement read.