Cairo – Mubasher: Arabia Investments Holding has spent around EGP 259.50 million of its capital raise subscription proceeds, amounting to EGP 260.54 million, and listed on 9 December 2019.
A total of EGP 72.47 million has been used in the capitalisation of a shareholder loan and EGP 7.50 million has been used in the issued capital of UE Finance, according to a bourse filing on Monday.
Moreover, the EGX-listed firm paid EGP 14.57 million to buy Incolease’s stake in UE Finance and EGP 80 million to increase the capital of UE Finance.
In addition, it spent EGP 19.60 million to raise the capital of Rawaj’s Auto Finance, EGP 13.50 million in capital to establish a factoring company, and EGP 19.42 million to buy treasury shares.
Moreover, the company paid a sum of EGP 8.32 million to meet the commitments of subsidiaries and EGP 24.19 million for general and administrative expenses.
The remaining amount of the subscription proceeds stands at EGP 946,220.
During the first half (H1) of 2022, Arabia Investments Holding recorded net earnings of EGP 35.57 million, compared to EGP 42.08 million, including minority shareholders’ rights.
