Sabaa to increase capital to EGP 88M

Updated 3/3/2021 4:12:00 PM

ArabFinance: Sabaa International for Pharmaceutical and Chemical Industry (SIPC) will increase the issued capital to EGP 88 million from EGP 77 million, according to the company’s statement filed to the Egyptian Exchange.  

The company will distribute 5.5 million free shares, an equivalent of 0.1428571428 free share per each, at the par value of EGP 2 per share.

The listed company obtained an EGP 11 million loan from its majority shareholders in order to finance the latest expansions.

The Egypt-based company is engaged in the pharmaceutical sector, with a generic product portfolio that includes products focused on different therapeutic categories.