Arab Finance: The Egyptian International Pharmaceutical Industries Company’s (EIPICO) (PHAR) board of directors has approved raising the company’s issued capital by EGP 148.75 million distributed over 14.87 million shares, according to a statement filed to the Egyptian Exchange (EGX) on January 2nd.
Accordingly, EIPICO’s issued capital will increase to EGP 1.14 billion from EGP 991.705 million.
Founded in 1980, EIPICO is an Egypt-based public shareholding company that operates in the pharmaceutical industry. It is a manufacturer and exporter of pharmaceuticals and holds license agreements with a group of international.