Egyptian businessman Medhat Khalil, the founder and chairman of Raya Holding, has experienced a substantial increase in the market value of his stake in the leading investment conglomerate. This follows a share split and a subsequent rise in the company's stock price on the Egyptian Exchange (EGX) , signaling renewed investor confidence in Raya Holding.
According to data tracked by Billionaires.Africa , Khalil's stake in Raya Holding has risen by EGP166.43 million ($3.42 million) over the past two months, driven by a modest uptick in the company's share price following the June 27 stock split. This increase follows a prior gain of $4.02 million between June 9 and 18 , when the value of Khalil's stake surged from EGP1.27 billion ($26.63 million) to EGP1.46 billion ($30.66 million).
Raya Holding's market cap exceeds $200 millionFounded in 1999 through the merger of Khalil's businesses with the Orascom Group, Raya Holding has grown into a formidable player in Egypt's investment sector. The company's diversified portfolio and strategic initiatives have propelled its profitability, with a 117.5 percent increase in net profit for the first half of 2024, reaching $15.62 million.
The June 27 stock split , effective July 1, initially reduced Raya Holding's share price to EGP2.1 ($0.043). However, the stock has since rebounded, gaining 10.48 percent and closing at EGP2.32 ($0.048) at the time of writing. This recovery has pushed Raya Holding's market cap above $200 million, delivering substantial returns to shareholders.
