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.