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Shareholder to sell 49M shares in Rameda

Shareholder to sell 49M shares in Rameda

ArabFinance: The ordinary general meeting (OGM) of Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) (RMDA) approved that the shareholder Sadiq Mohamed Afifi Sadiq would sell his stake of 49 million shares in the company to a foreign investment entity, according to a statement filed to the Egyptian Exchange (EGX).

The buyer shall hold-onto the purchased stake until the expiration of the duration for holding-onto the shares as per Article 7 of the EGX’s listing rules.

The company previously announced that one of its shareholders was considering selling not over 5% of the company’s shares to an investment entity.

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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