Cairo – Mubasher: EFG Hermes announced that Coronation Africa Frontiers Fund Universal has raised its stake in the Egyptian International Pharmaceutical Industries (EIPICO) to 5.07% from 4.97%.
The Coronation Africa Frontiers Fund Universal purchased around 100,350 shares in EIPICO, according to a recent statement to the Egyptian Exchange (EGX).
The transaction’s value amounted to EGP 7.52 million, with an average purchase rate of EGP 75 per share.
For the full-year 2018, EIPICO reported a 1.8% increase in its consolidated profits, logging EGP 701.31 million from EGP 688.87 million in the previous year.
