Cairo - Mubasher: Ibnsina Pharma reported a rise in profits in the first nine months of 2017 by 75.2% year-on-year, according to a bourse filing.
Net profits amounted to EGP 143 million, compared to EGP 81 million for the same period last year, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.
The company’s sales totalled EGP 7.4 billion in 2016, up from EGP 5.4 billion in the year before.
It was reported that Ibnsina Pharma is planning to raise around EGP 1.6 billion by offering nearly 40% of its shares on the Egyptian Exchange (EGX) in December.
The initial public offering is managed by Beltone.
The company said that the guiding price for the 269 million shares it is offering ranges between EGP 5.21 and EGP 5.95.
