FRA approves Memphis Pharmaceutical’s capital increase

The company will increase its authorized capital

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.

Copyright © 2020 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities