Raya Contact Centers has unveiled plans to establish a new company aimed at providing outsourcing and labor recruitment services, reflecting the strategic expansion of the company in this vital sector. The capital of the new company is approximately 250,000 EGP, with Raya Contact Centers owning a controlling stake of 98% in the new entity.
The CEO of the company has been authorized to take all necessary actions to complete the establishment process. This move is part of the company's efforts to enhance its presence in the outsourcing services market, which has witnessed significant growth in recent years.
Event Details
In a related context, the ordinary general assembly of Raya approved the distribution of profits totaling 352.4 million EGP, which includes 66.68 million EGP as profits for the current year and 285.7 million EGP as retained earnings from previous years. The assembly also decided to carry forward the remaining profits, amounting to 339.24 million EGP, as retained earnings for the next year after deducting the employees' share and the board of directors' bonus of 2% from the total profits.
The general assembly approved the board of directors' report and the financial statements for the year ending December 31, 2025. Additionally, the extraordinary assembly approved the sale of some fixed assets, including a 2017 Toyota Corolla, valued at 102,026 EGP, which represents 30% of the vehicle's purchase value.
Background & Context
Raya Contact Centers' profits declined by 31% during the first nine months of last year, recording profits of 223.4 million EGP compared to 321.9 million EGP in the same period of 2024. However, the company's revenues increased during the same period to 2.04 billion EGP, compared to 1.89 billion EGP in the corresponding period of the previous year.
In evaluating performance, the company revealed a fair value report for its shares, prepared by the independent financial advisor “Zakhari Financial Consulting,” which indicated that the fair value of the share ranges between 8 EGP and 9.6 EGP, based on discounted cash flows and the price-to-earnings ratio.
Impact & Consequences
This step represents an opportunity for shareholders to achieve exceptional returns on their investments, as the offer made by Raya Holding for Financial Investments, which reached 9 EGP per share, reflects the company's commitment to enhancing its competitive position and supporting its growth potential in the Egyptian and regional markets. Additionally, the commitments of the offeror ensure job stability for the company's employees in the upcoming period.
The General Authority for Financial Supervision has approved the publication of the disclosure report of Raya Holding regarding the amendment of the offer period and price, where the offer price has been adjusted to 9 EGP per share instead of 7.5 EGP, and the offer period has been extended for an additional ten working days.
Regional Significance
These developments contribute to enhancing the position of Egyptian companies in the outsourcing market, a sector that is experiencing increasing competition in the region. These steps also reflect a trend towards improving the business environment and boosting investments in Egypt, which could lead to the creation of new job opportunities and enhance economic growth.
In conclusion, these strategic steps by Raya Contact Centers reflect its commitment to expansion and growth, contributing to strengthening its position in the market and demonstrating investor confidence in the company's future.