Cairo – Mubasher: The Egyptian Exchange announced Tuesday that the span set for buying 7.89% of October Pharma will expire today, according to a bourse statement.

Earlier, the bourse opened the OPR market for three days (22-24 January) to sell a 7.9% stake in the company after two shareholders expressed their desires to buy 473,600 shares at EGP 31 each.  

The company operates with EGP 60 million, divided in to 6 million shares at EGP10 each.

Earlier, the company expected to incur losses of EGP 50 million in 2017, amid the continuous increase in the production cost.

Accordingly, the drug firm announced studying to suspend the production of 30 medicines due to the sharp devaluation of the Egyptian against the US dollar.