Cairo – Mubasher: The Egyptian Exchange's (EGX) listing committee approved listing the capital raise shares of Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda).
The company's issued and paid-up capital will be increased by EGP 57.850 million to EGP 250 million from EGP 192.150 million via a 0.3-for-one bonus issue, the EGX said in a statement on Wednesday.
A total of 231.400 million shares will be issued at a nominal value of EGP 0.25 apiece to be funded by the achieved earnings and retained earnings for the year ended 31 December 2020.
The record date for the 0.3-for-one bonus issue is at the end of the trading session on Wednesday, 22 September. Shares will be listed as of the beginning of the trading session on Thursday, 23 September.
In the first half (H1) of 2021, Rameda achieved a 41.4% annual increase in net profits to EGP 61.47 million, compared to EGP 43.47 million in H1-20.
