Cairo – Mubasher: The surplus subscription amount of the public offering of Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) will be refunded to investors starting from 5 December.

Rameda’s stock will start trading on the Egyptian Exchange (EGX) on 11 December, according to a bourse disclosure on Thursday.

The pharmaceuticals company’s public offering was oversubscribed by about 36 times and the allocation rate is expected to be 2.7% for every order.

CI Capital previously revealed that Ramdeda’s private offering was oversubscribed by 117% at EGP 4.66 per share.