Cairo – Mubasher: The extraordinary general meeting (EGM) of Sabaa International Company for Pharmaceutical and Chemical Industry approved the board’s proposal to raise the issued and paid-up capital to EGP 100 million from EGP 88 million.

The capital will be increased by issuing 6 million shares at a nominal value of EGP 12 million or EGP 2 per share, the pharmaceutical company said in a bourse disclosure on Wednesday.

Moreover, the ordinary general meeting (OGM) approved the board’s recommendation to distribute bonus shares at a value of EGP 12 million.

In 2020, Sabaa International’s net profits jumped to EGP 15.14 million from EGP 8.58 million in 2019.