Arab Finance: Ekuity B.V. acquired an additional stake in Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) (RMDA) for EGP 159.528 million, according to a disclosure to the Egyptian Exchange (EGX) on September 15th.

The transaction included the purchase of 53.768 million shares in Rameda at an average price of EGP 2.97 per share.

Ekuity’s stake increased in Rameda to 8.2% from 2.82%.

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.