Egyptian tycoon Medhat Khalil's Raya Holding stake gains $3.4 million after stock split

Feyisayo Ajayi -

Key Points

  • Medhat Khalil’s stake in Raya Holding grew by $3.42 million over two months, driven by a 10.48% rise in share price post-June 27 stock split.
  • The company’s market cap now exceeds $200 million, bolstered by a 117.5% profit increase in H1 2024, reaching $15.62 million.
  • Raya Holding’s stock has dropped 16.85% YTD; factoring in the Egyptian pound’s devaluation, the loss escalates to 47.16%.

Egyptian businessman Medhat Khalil, the founder and chairman of Raya Holding, has experienced a substantial increase in the market value of his stake in the leading investment conglomerate. This follows a share split and a subsequent rise in the company’s stock price on the Egyptian Exchange (EGX), signaling renewed investor confidence in Raya Holding.

According to data tracked by Billionaires.Africa, Khalil’s stake in Raya Holding has risen by EGP166.43 million ($3.42 million) over the past two months, driven by a modest uptick in the company’s share price following the June 27 stock split. This increase follows a prior gain of $4.02 million between June 9 and 18, when the value of Khalil’s stake surged from EGP1.27 billion ($26.63 million) to EGP1.46 billion ($30.66 million).

Raya Holding’s market cap exceeds $200 million

Founded in 1999 through the merger of Khalil’s businesses with the Orascom Group, Raya Holding has grown into a formidable player in Egypt’s investment sector. The company’s diversified portfolio and strategic initiatives have propelled its profitability, with a 117.5 percent increase in net profit for the first half of 2024, reaching $15.62 million.

The June 27 stock split, effective July 1, initially reduced Raya Holding’s share price to EGP2.1 ($0.043). However, the stock has since rebounded, gaining 10.48 percent and closing at EGP2.32 ($0.048) at the time of writing. This recovery has pushed Raya Holding’s market cap above $200 million, delivering substantial returns to shareholders.

Khalil’s stake in Raya Holding grows by $3.42 million

Khalil, chairman and managing director of Raya Holding, holds a 17.67 percent stake in the Cairo-based conglomerate. A double-digit rise in share price boosted the market value of his stake by EGP166.43 million ($3.42 million) over two months, from EGP1.59 billion ($32.62 million) on July 1 to EGP1.76 billion ($36.04 million). This gain cements his position as a leading figure on the EGX and one of Egypt’s wealthiest businessmen.

Your Money and Your Life 

Raya Holding’s stock has dropped 16.85 percent year-to-date, but with the Egyptian pound’s devaluation, the loss escalates to 47.16 percent. A $100,000 investment at the start of 2024 would now be worth $52,840, marking a $47,160 loss.