ArabFinance: Sabaa International for Pharmaceutical and Chemical Industry (SIPC) announced that its extraordinary general meeting (EGM) and ordinary general meeting (OGM) approved to raise the company’s issued capital to EGP 100 million from EGP 88 million, according to a statement filed to the Egyptian Exchange (EGX).

The capital increase amounts to EGP 12 million distributed over 6 million bonus shares at a par value of EGP 2 per share.

Accordingly, the company decided to distribute 0.1363636-for-1 bonus shares as of October 19^th, with eligibility in distribution for shareholders until October 18^th.

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