EIPICO’s board nods to 15% issued capital raise

The board of directors of the Egyptian International Pharmaceutical Industries (EIPICO) approved increasing the company’s issued capital by 15% to EGP 1.14 billion from EGP 991.70 million.

The EGP 148.75 million capital hike will be distributed among 14.87 million shares as per the fair value (FV) with no issuance expenses, according to a bourse disclosure on Monday.

During the first nine months (9M) of 2022, the consolidated net profits of EIPICO surged by 28.80% to EGP 417.79 million, compared to EGP 324.17 million in 9M-21, including minority shareholders' rights.