Arab FinanceAman Holding Company, one of Aman's subsidiaries, has signed… Raya Holding for Financial Investments – (RAYA)A non-binding memorandum of understanding with Jarir Marketing Company, a leading company in the retail sector in the Kingdom of Saudi Arabia and the Gulf region, according to statement Egyptian Stock Exchange.
The memorandum of understanding aims to establish a consumer finance company in the Kingdom of Saudi Arabia with an initial capital of 100 million Saudi riyals, after obtaining the necessary regulatory licenses. Aman Holding Company will own a 41% stake, while Jarir Marketing Company will own a 49% stake. Allocating the remaining 10% share to Hamad bin Abdullah bin Sulaiman Al-Manea & Partners (a closed Saudi joint stock company or other shareholders).
About the results of its business during the period from 01/01/2024 to 09/30/2024, it showed achieving a net profit assembly It amounted to 1,110,279,586 pounds, compared to the company achieving a net profit of 392,946,486 pounds during the period from 01/01/2023 to 09/30/2023.
In the same context, the company achieved net losses independent For the period from 01/01/2024 to 09/30/2024, it was estimated at approximately 249,250,804 pounds, compared to a net profit of 56,689,441 pounds, during the comparative period of the previous fiscal year.
It is worth noting that the net profits or losses for the year are calculated according to the share of owners of the parent company.
Raya Holding is a Cairo-based investment group that manages a diversified investment portfolio, working in the fields of information technology, data center outsourcing, communications centers, smart buildings, consumer electronics, food and beverages, land transportation, and electronic payment methods, as the parent company of eleven companies that engage in different types of activities and achieve remarkable success. It has been listed Raya Holding shares on the Egyptian Stock Exchange since 2005; Because the company employs more than 13,000 competent employees who meet the needs of a broad base of customers around the world from the company’s branches in the Arab Republic of Egypt, the Kingdom of Saudi Arabia, the United Arab Emirates, Poland and Nigeria.
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