Cairo – Mubasher: The retail offering of Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) has been oversubscribed by 3.27 times on the third day of subscription, capital market sources told Mubasher on Monday.

Investors submitted 251 buy orders for 61.6 million shares, covering the 18.83 million shares offered by Rameda, according to the sources.

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

The pharmaceuticals firm expects to raise EGP 1.755 billion through its public offering.