Cairo – Mubasher: Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) has purchased 13.379 million price stabilisation shares, valued at EGP 62.346 million, the Egyptian Exchange (EGX) said on Thursday.

In December 2019, Rameda completed its initial public offering (IPO) on EGX, with 376.6 million shares, representing 48.99% of the company’s capital shares, being offered at a share price of EGP 4.66.

The public offering was oversubscribed by about 36 times, while the private offering was oversubscribed by 117%.