PH
The founder and chairman of Raya Holding, Medhat Khalil, is an Egyptian businessman. The recent increase in the group’s shares on the Egyptian Exchange has resulted in a significant increase in the market value of his ownership position in the investment conglomerate based in Egypt.
The market value of Khalil’s ownership in Raya Holding has increased by $37.89 million over the last ten days, according to statistics compiled by Billionaires.Africa. This increase is attributable to fresh investor interest as they purchase up shares in the company.
The 1999 merger of Khalil and Orascom Group firms created Raya Holding, which is a major player in the Egyptian investment scene. With 1,245,661,205 shares in Raya Holding, Khalil holds a 58.1 percent majority stake.
At the time of publishing, Raya Holding’s share price on the Egyptian Exchange had climbed from EGP 2.69 ($0.087) to EGP 3.63 ($0.117), a huge 34.94 percent increase since January 1. This has resulted in a market value of more than $250 million.
With a total gain of EGP1.17 billion ($37.89 million) for the Egyptian multimillionaire in just 10 days, Khalil’s stake’s market value increased from EGP3.35 billion ($108.45 million) on January 1 to EGP4.52 billion ($146.34 million) as a result of this double-digit spike.
Khalil’s recent increase in stake not only confirms his standing as one of the most successful investors on the Egyptian Exchange, but it also places him among the wealthiest people in the country.
Following the purchase of a sizeable 27.69 percent stake (23.9 million shares) in Ostool Transport and Logistics Company, Raya Holdings’ stock price increased.This is in line with the group’s plan to increase its stake to an astonishing 90% in Egypt’s investment industry.
