CAIRO, April 19 Shares in Raya Contact Center Co
will start trading next week after the company sells a
49 percent stake to investors with the aim of raising 808.5
million Egyptian pounds ($45 million), Chief Executive Ahmed
Imam told Reuters.
The company, which was founded in 2001 and provides
outsourcing services to Europe and the Middle East, closed its
private placement on April 12 after it was oversubscribed four
times. The initial public offering is due to close on April 20.
Financial advisors set a fare share price of 17.91 pounds
per share for the issue. Shares are expected to start trading on
the bourse on April 27.
The company aims to double revenues and profit within two
years as it expands in Egypt and the region, Imam said, adding
that he expects revenue to increase 33 percent this year and
profit by more than 40 percent.
Imam said more than 50 percent of the profit for 2017 and
December 2016 will be distributed to investors in 2018.
Raya Contact Center's profit for 2016 exceeded 110 million
pounds versus 30.1 million a year earlier. Its revenue was 500
million pounds in 2016 versus 288.2 million a year earlier.
($1 = 17.9500 Egyptian pounds)
(Reporting by Ehab Farouk; Writing by Asma Alsharif, editing by