FRA approves in principle capital increase for Memphis Pharmaceutical

Updated 7/22/2024 11:32:00 AM
FRA approves in principle capital increase for Memphis Pharmaceutical

Arab Finance: The Financial Regulatory Authority (FRA) has approved in principle for Memphis Pharmaceutical and Chemical Industries to invite senior shareholders to subscribe to the company’s rights issue, according to a statement.

Through the rights issue, the company seeks to raise its issued capital by EGP 171.25 million distributed over 17.125 million shares at a nominal value of EGP 10 per share.

Memphis is one of the oldest pharmaceutical and chemical companies in the Middle East and has been in the market since 1940.

 

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