Arab Finance: The Egyptian International Pharmaceutical Industries Company (EIPICO) has announced plans to increase its authorized capital from EGP 1.5 billion to EGP 6 billion.

The decision, disclosed in a statement to the Egyptian Exchange (EGX), outlines a capital increase from EGP 1.48 billion to EGP 1.68 billion.

The EGP 200 million increase will be distributed across 20 million shares.

The pricing is based on a fair value study conducted by Eagle Company, an independent financial advisor.

Notably, the capital increase will incur no-issuance expenses.

The move will take place through a cash subscription, available to existing shareholders, with subscription rights being traded separately from the original shares.

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