Cairo – Mubasher: The retail offering of Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) has been oversubscribed by 1.6 times on the second day of subscription, capital market sources told Mubasher on Sunday.

Investors placed 91 buy orders for 29.96 million shares, covering the 18.83 million shares offered by Rameda, sources added.

On 28 November, investors revealed that Rameda’s offering was oversubscribed on the first day of subscription.

Rameda’s public offering involves a maximum of 18.8 million shares, or 5% of the total offered shares, while the private placement includes 357.7 million shares.