Sabaa obtains from FRA's go-ahead to increase capital

Updated 4/7/2021 2:26:00 PM

ArabFinance: Sabaa International for Pharmaceutical and Chemical Industry (SIPC) obtained the Financial Regulatory Authority’s (FRA) go-ahead to increase the capital to EGP 100 million from EGP 88 million, according to the FRA’s statement filed to the Egyptian Exchange.

The company will increase the capital by EGP 12 million distributed on 6 million shares, at a par value of EGP 2 per each.

Sabaa reported a net profit of EGP 15.14 million in 2020, compared to EGP 8.58 million in 2019.

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