Arab Finance: The Financial Regulatory Authority (FRA) has approved in principle Egyptian International Pharmaceutical Industries Company’s (EIPICO) (PHAR) proposal to invite senior shareholders to subscribe to its issued share capital increase amounting to 49.585 million shares at a nominal value of EGP 10 per share, according to a statement sent to the Egyptian Bourse on May 10^th.

Accordingly, EIPICO’s issued capital shall increase by EGP 495.852 million to EGP 1.487 billion from EGP 991.705 million.

On April 2^nd, EIPICO’s ordinary general assembly meeting (OGM) approved the distribution of cash dividends of EGP 2 per share to shareholders for 2022's earnings which hit EGP 587.040 million.

Founded in 1980, EIPICO is an Egypt-based public shareholding company that operates in the pharmaceutical industry. It is a manufacturer and exporter of pharmaceuticals and holds license agreements with a group of international.

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