ArabFinance: The Egyptian Exchange’s listing committee approved the listing capital increase of Sabaa International for Pharmaceutical and Chemical Industry (SIPC), according to the company’s statement filed to the Egyptian Exchange.
Sabaa International will increase its capital by EGP 11 million to EGP 88 million from EGP 77 million.
The company will issue 5.5 million shares, an equivalent of 0.1428571428 free share, at a par value of EGP 2 per each.
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.
