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Saudi Seventh Investment buys additional 6.5% stake of Rameda

Saudi Seventh Investment buys additional 6.5% stake of Rameda

ArabFinance: Saudi Seventh Investment Company has purchased an additional 6.5% stake in Tenth of Ramadan for Pharmaceuticals Industries and Diagnostic Reagents (Rameda) (RMDA), with the company's total stake in Rameda rising from 4.51% to 11.01%, according to a disclosure filed to the Egyptian Exchange (EGX) on April 26th.

Accordingly, the company’s bought 65 million more shares with a total value of EGP 135.2 million, equivalent to an average price of EGP 2.08 per share.

Rameda is an Egypt-based pharmaceutical company that manufactures both human and veterinary pharmaceuticals.

It operates three fully independent factories at its plant, including 20 production lines capable of producing a wide range of general medicinal forms, namely eye drops, solid dosage forms, syrups, blow-fill-seal, and lyophilized vials, among others.

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