Cairo – Mubasher: Premium Diagnostics LCC acquired a 9.37% equity ownership in City Medical Laboratory at a value of EGP 60 million, according to a bourse disclosure.

The UAE-based entity purchased 60 million shares in the EGX-listed firm at an average price of EGP 1 per share.

It is worth highlighting that EFG Hermes Securities Brokerage was the broker for the transaction that was concluded on 23 May 2024.

Earlier this month, the shareholders of City Medical decided to increase the capital to EGP 81.48 million from EGP 64 million.

The EGP 17.48 million increase will be distributed over 174.84 million shares at a nominal value of EGP 0.10 per share.