Egyptian tycoon Medhat Khalil earns $11.7 million from investment in Raya Holding

by MMC
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Egyptian tycoon Medhat Khalil, founder and chairman of Raya Holdinghas experienced a substantial increase in his net worth, earning millions of dollars from the sharp increase in the market value of his stake in the Egypt-based investment conglomerate.

According to data tracked by Billionaires.AfricaThe market value of Medhat Khalil’s stake in Raya Holding increased by $11.7 million over the past 25 days, this may be linked to renewed interest from investors as they snap up shares in the group.

Raya Holding jumps 13.3% on EGX: Medhat Khalil’s stake gains $11.7 million in 25 days

Raya Holding, established in 1999 following a merger between entities owned by Medhat Khalil and Orascom Group, has established itself as a key player in the Egyptian investment landscape. Khalil owns a controlling stake of 58.1 percent in Raya Holding, holding a total of 1,245,661,205 shares.

Raya Holding’s share price on the Egyptian Stock Exchange saw a significant increase of 13.30 percent since October 21, from EGP 2.18 ($0.0706) to EGP 2.47 ($0.080) as of October 21. time of publication, thus pushing the market capitalization beyond $170 million.

Medhat Khalil’s wealth soars: Rising market and rising profits boost Raya Holding’s success

This double-digit increase took the market value of Khalil’s stake in the group from EGP 2.72 billion ($87.89 million) on October 21 to EGP 3.08 billion ($99.58 million). at the time of publication, generating a total gain. of EGP 361.24 million ($11.69 million) for the Egyptian multimillionaire in 25 days.

The recent remarkable rise in the market value of Medhat Khalil’s stake not only consolidates his position as one of the most successful investors in the Egyptian Stock Exchange, but also firmly establishes him among the richest individuals in the country.

Under the leadership of Medhat Khalil, Raya Holding has achieved an impressive Profits up 105.95% in the first half of 2023. The figures rose from EGP 170.13 million ($5.5 million) in the first half of 2022 to an outstanding EGP 350.4 million ($11.34 million), underscoring its position as one of Egypt’s leading conglomerates the most lucrative.

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