Cairo – Mubasher: Egyptian International Pharmaceutical Industries (EIPICO) obtained the board’s approval to increase its issued capital by 50% to EGP 1.48 billion from EGP 991.70 million.
Meanwhile, the EGP 495.85 million raise value will be distributed over 49.58 million shares at a nominal value of EGP 10 per share, according to a bourse filing.
Last month, the board greenlighted a 15% hike in the company’s issued capital to EGP 1.14 billion from EGP 991.70 million.
In the first nine months (9M) of 2022, EIPICO recorded an annual surge of 28.80% in consolidated net profits to EGP 417.79 million, versus EGP 324.17 million, including minority shareholders' rights.
The net sales enlarged to EGP 2.68 billion in 9M-22 from EGP 2.42 billion in 9M-21.
