Egypt EGX lists Rameda’s capital hike shares

The increase will be financed from the company’s retained earnings as per the financial statements of the full-year ended December 2020

  
Traders work at the Egyptian stock exchange in Cairo February 2, 2014.

Traders work at the Egyptian stock exchange in Cairo February 2, 2014.

REUTERS/ Mohamed Abd El Ghany
 

Egypt - The Egyptian Exchange’s (EGX) listing committee has decided to list the capital increase shares of Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) (RMDA), the EGX revealed in a statement.

The company’s issued and paid-up capital will be raised to EGP 250 million from EGP 192.15 million.

The capital increase amounts to EGP 57.85 million distributed over 231.40 million bonus shares at a nominal value of EGP 0.25 per share.

The increase will be financed from the company’s retained earnings as per the financial statements of the full-year ended December 2020.

Moreover, stock dividends of 0.3010668748-for-1 bonus shares will be distributed as of September 23rd, 2021, with eligibility for shareholders on a record date of September 22nd, 2021.

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.

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