Cairo – Mubasher: The Egyptian International Pharmaceutical Industries (EIPICO) approved to subscribe to the capital increase of its 10%-owned subsidiary Medical Union Pharmaceuticals (MUP).
The company will increase the capital by EGP 41 per share, including a nominal value of EGP 10 and an issuance premium of EGP 31, at a total value of EGP 74.82 million, EIPICO said in a bourse disclosure on Sunday.
Shareholders owning shares until the end of the trading session on 24 November will be entitled to subscribe to 37.303% of the total shares owned by each one in the issued capital before the raise.
During the first nine months of 2020, EIPICO achieved net profits of EGP 339.46 million, down from EGP 522.19 million in the year-ago period.
