Seven national IT companies decide to merge, establishing Raya Holding to cater to a gap between multinational market players and local companies.
Raya’s operations entailed merging smaller companies with similar operations. Raya Holding launched three lines of business: Information Technology, Telecom and Retail, and Distribution.
Expanding into the international sphere, Raya started seizing opportunities in different countries, establishing Raya Gulf, Raya Saudi, Raya USA, and Raya Algeria.
In May 2005, an IPO worth EGP 400 million was launched to list Raya Holding shares in the Egyptian Exchange.
Recognizing the need to maximize operational efficiency, three CEOs were appointed to lead Raya’s three lines of business, taking the group’s operations to higher levels.
Expanding Raya Group’s portfolio, Raya ventured into new markets of smart building development, leveraging on its strong IT expertise in smart buildings.
With a strong commitment to a portfolio diversification strategy, Raya Group launched two new subsidiaries, penetrating markets that add to Raya’s diversified portfolio. By 2010 and 2011, BariQ and Ostool became Raya’s newest subsidiaries.
Despite the deeply damaged, post-revolution economy, along with unstable political conditions, Raya Group managed to solidify strategies and explore new realms of business, following with its vigorous expansion plan.
Raya signed a contract with Makarony Polskie, a leading Polish pasta manufacturer, to import Makarony Polskie and Sorenti pasta brands. Raya’s premium SARY tablet was launched in November, recorded to be the first in Egypt to run on Windows 10.
Launching three new lines of business; Raya Foods, Raya Manufacturing and Exports, and Aman E-Payment and Aman for Financial Services.
Raya Auto was launched to invest in modern vehicle manufacturing in 2017, and Raya Contact Center shares began trading on the EGX after the completion of the IPO. Furthermore, Raya Foods was established through the acquisition of a 100% stake in International Union for Integrated Food Industries.
Aman Microfinance is the first new company to obtain the license for microfinance projects in the Egyptian market. Raya Advanced Manufacturing commenced operations.
Marking a milestone, the first securitized bond offering worth EGP 500 million set the stage for innovative financial ventures.
Building on success, a second securitized bond offering worth EGP 560 million coincided with the acquisition of 100% stakes in i2 and URC, fostering strategic growth and consolidation.
Demonstrating adaptability, the divestment of BariQ for EGP 570 million was complemented by the acquisition of 85% of Gulf CX, alongside the successful third securitized bond offering worth EGP 585 million, reflecting a dynamic approach to market opportunities.
Raya Holding solidified its position by acquiring an additional c. 10.3% of Raya Electric, culminating in sole ownership and control over the entity.
Fueling growth, a series of bond offerings totaling EGP 2,410 million affirmed sustained market dominance and capital expansion, underpinning a trajectory of sustainable growth.