Cairo – Mubasher: Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) has submitted a request to the Egyptian Exchange (EGX) to increase its issued capital to EGP 192.15 million from EGP 160.9 million.
The pharmaceuticals firm seeks to raise its capital by EGP 31.25 million, distributed over 125 million shares, at a nominal value of EGP 0.25 apiece, in addition to issuance bonus of EGP 4.41, the EGX said in a statement on Sunday.
The request will be referred to the listing committee after being studied by the EGX, the statement showed.
Earlier, Rameda said that it will offer 376.6 million shares at a price of EGP 4.66 per ordinary share in its initial public offering (IPO) and expects to raise EGP 1.755 billion.
The offering has been oversubscribed on the first day of subscription, sources told Mubasher on Thursday.
