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FRA approves Rameda capital raise

FRA approves Rameda capital raise

ArabFinance: The Egyptian Financial Regulatory Authority (FRA) approved the publication of the disclosure form submitted  Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) (RMDA) to increase its capital, according to a statement to the Egyptian Exchange on March 22nd.

The company will raise its issued capital by EGP 57.85 million to EGP 250 million from EGP 192.15 million through distributing bonus shares at EGP 0.3 per share.

The listed company reported a 36% Year on Year increase in its consolidated net profit in 2020, recording EGP 112.18 million.

Rameda is an Egypt-based pharmaceutical company that manufactures both human and veterinary pharmaceuticals. It operates three fully independent factories at its plant, including 20 production lines capable of producing a wide range of general medicinal forms, namely eye drops, solid dosage forms, syrups, blow-fill-seal, and lyophilized vials, among others.

 

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