Cairo – Mubasher: The private offering of Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) has been oversubscribed by 117% at EGP 4.66 per share, according to a company statement released on Wednesday.

Financial institutions accounted for 75% of total orders, capital market sources revealed.  

By 12:00 pm on the final day of subscription, Rameda’s public offering was oversubscribed by 19.6 times, sources added.

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.