Arab Finance: Raya Holding for Financial Investments (RAYA) is planning to increase the capital of its subsidiary Raya Auto by at least EGP 250 million, Raya Holding’s CFO Hossam Hussein told Asharq Business.
Thus, Raya Auto’s paid-up capital will reach EGP 400 million, Hussein added.
The capital increase will contribute to expanding the company’s business in manufacturing lightweight vehicles and electric vehicles (EVs).