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Equinox raises stake in Rameda to 17.5%

Equinox raises stake in Rameda to 17.5%

ArabFinanceTenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) (RMDA) announced that Equinox Pharma Holding Limited, along with a GCC-based institutional investor and an executive board member of Rameda, have collectively acquired a 6.4% stake in Rameda, according to a press release.

The transaction has been carried out through a block-trade with a number of pre-initial public offering (IPO) shareholders at a total value of EGP 128.6 million.

Accordingly, Equinox’s stake in Rameda increased by 1.8% to 17.5%, marking a 4.9% increase in shareholding in less than eight months and a 38% growth since the date of Rameda’s IPO.

“Just two years after its listing, and with solid year-end results reported by the company in 2021, we believe that Rameda is on track to generate exceptional growth in both the short and long-term,” Equinox’s Managing Director Shamel Aboul Fadl commented.

“We look forward to leveraging its currently attractive valuation to ultimately generate long-term and sustainable value to Equinox’s portfolio,” Fadl added.

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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