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Ibnsina Pharma denies revealing 2020's investment plan

Ibnsina Pharma denies revealing 2020's investment plan

ArabFinance: Ibnsina Pharma (ISPH) stated that it invests an average of EGP 250 -300 million and inaugurates 3-4 new branches on a yearly basis, as it did not reveal a specific amount for investment or a number of branches to be inaugurated for 2020, according to the company’s May 10th statement filed to the Egyptian Exchange.

The company responded to the news that has been circulated titling “Ibnsina Pharma intends to inject new EGP 250-300 million investments in 2020.”

In April, the company’s extraordinary general meeting agreed the issued capital to be EGP 240 million distributed on 960 million shares at a par value of EGP 0.25 each.

Ibnsina Pharma is an Egypt-based pharmaceutical distribution company. The company distributes a portfolio of pharmaceutical products from over 350 Egyptian and multinational companies to more than 35,000 customers including pharmacies, hospitals, retail outlets, and wholesalers.

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