The Financial Regulatory Authority (FRA) has approved in principle for Memphis Pharmaceutical and Chemical Industries to invite senior shareholders to subscribe to the company’s rights issue, according to a statement.
Through the rights issue, the company seeks to raise its issued capital by EGP 171.25 million distributed over 17.125 million shares at a nominal value of EGP 10 per share.
Memphis is one of the oldest pharmaceutical and chemical companies in the Middle East and has been in the market since 1940.
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