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Sabaa International’s EGM nods to stock split

Sabaa International’s EGM nods to stock split

Arab Finance: The extraordinary general meeting (EGM) of Sabaa International for Pharmaceutical and Chemical Industry (SIPC) endorsed splitting the company’s stock to EGP 0.40 from EGP 2, according to a statement filed to the Egyptian Exchange (EGX) on September 12th.

Accordingly, the number of capital shares will be 250 million nominal shares.

Moreover, the company’s issued and paid-up capital will remain unchanged at a value of EGP 100 million, but distributed over 250 million shares at the new nominal value of EGP 0.40 per share.

The EGM also approved the amendment of Articles 6 and 7 of the company’s Articles of Association.

Saba International is an Egypt-based company operating in the pharmaceutical sector, with a generic product portfolio that includes products focused on different therapeutic categories.

 

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