Egypt’s Rameda Pharmaceutical said on Wednesday it would float 49 percent of its shares on the Egyptian stock exchange to raise up to 1.755 billion pounds ($109 million) and expects to start trading on December 11.
The shares, which will be offered in two tranches, will have a price per share of 4.66 pounds, according to the prospectus published in Egyptian newspapers.
One tranche, representing a 5 percent stake, will be sold to small investors in a public offering.
Rameda, which was established by a group of investors from the Arabian Gulf in 1994, manufactures and sells branded generic pharmaceutical products.
The company's paid-up capital – the amount it has received from directly selling its shares to investors – is currently 160.90 million pounds, distributed through 643.60 million shares with a par value of 0.25 pound per share.
Cairo-based CI Capital is Rameda’s IPO Manager, while Tamimi, Maatouq Bassiouni and Al-Hinnawi are the legal advisers.
Also Read
-
Egypt to sell land to help restructure state companies
Egypt will soon begin selling state-owned land to help finance the restructuring of public sector companies, the public enterprises minister said on ... Economy -
Egypt to sell 22-25 pct of Heliopolis shares in Q1, minister says
Egypt will offer 22 percent to 25 percent of the shares in Heliopolis Company For Housing and Development on the Egyptian stock exchange in the first ... Economy
