Cairo – Mubasher: The shareholders of Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) agreed to increase the company’s issued capital to EGP 252.11 million from EGP 250 million.

In order to carry out the capital hike, Rameda will issue additional shares at a value of EGP 2.11 million to be allocated entirely for the benefit of the firm's reward and incentive system.

Following the transaction, the new capital will be distributed over 1 billion shares at a par value of EGP 0.25 per share, according to a bourse filing.

Last September, Ekuity B.V. raised its ownership in Rameda to 8.20% from 2.82% after purchasing 53.76 million shares in the latter for EGP 159.52 million at an average price of EGP 2.96 per share.