Cairo – Mubasher: The Board of Directors of Arabia Investments Holding decided to appoint an independent financial advisor registered with the Financial Regulatory Authority (FRA) registers to prepare a feasibility study for the company's required financing needs.
The company explained in a statement to the Egyptian Exchange (EGX) today that this comes within the framework of meeting the requirements of strengthening capital, liquidity position, and equity, through studying capital increases or issuing financing sukuk in accordance with business plans for the next five years.
It added that the procedures followed in these studies target its two subsidiaries, "Kahrabika" and "Toblat", noting that the Managing Director has been delegated to contract with the financial advisor and determine their fees.
It pointed out that the matter will be re-submitted to the Board of Directors in light of the results of the feasibility study, in preparation for taking the necessary decisions in accordance with the listing and delisting rules of the Egyptian Exchange (EGX) and the instructions of the Financial Regulatory Authority (FRA).
