ArabFinance: Memphis Pharmaceutical got the Financial Regulatory Authority’s (FRA) approval to increase the authorized capital by EGP 200 million, according to the FRA’s statement filed to the Egyptian Exchange.
The company will increase its authorized capital from EGP 100 million to EGP 300 million.
Memphis posted a net profit of EGP 15 million for the fiscal year (FY) 2019/2020, against a net loss of EGP 25.38 million in FY 2018/2019.
Memphis Company is one of the companies of the drug holding company in Egypt. Memphis Company is considered one of the oldest pharmaceutical and chemical companies in the Middle East since 1940.
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