Rameda’s EGM nods to capital increase
Updated 7/24/2023 9:44:00 AM
Arab Finance: The Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents’ (Rameda) (RMDA) extraordinary general meeting (EGM) has approved increasing its issued capital by EGP 127.887 million distributed over 1.520 billion shares at a par value of EGP 0.25, according to a filing to the Egyptian Exchange (EGX) on July 24th.
Thus, the capital shall be increased to EGP 380 million from EGP 252.112 million, via the issuance of bonus shares of 0.51 shares for every share.
It is worth noting that the company reported a 7.36% year-on-year decline in consolidated net profit excluding minority interest for the first quarter (Q1) of 2023.
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.
Related News
