Cairo – Mubasher: The public offering of Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) has been oversubscribed by 8.8 times on the fourth day of subscription, capital market sources told Mubasher on Monday.

The total number of buy orders reached 602 for 165.78 million shares, sources revealed. Subscription will be closed on 4 December.

On 28 November, Rameda launched its public offering that includes 18.8 million shares at EGP 4.66 per share. 

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.