Egypt: EIPICO’s board approves issued capital hike to $48mln

In the first nine months of 2022, EIPICO recorded an annual surge of 28.80% in consolidated net profits

Staff Writer, Mubasher

February 20, 2023

PHOTO

Cairo – Egyptian International Pharmaceutical Industries (EIPICO) obtained the board’s approval to increase its issued capital by 50% to EGP 1.48 billion from EGP 991.70 million.

Meanwhile, the EGP 495.85 million raise will be distributed over 49.58 million shares at a nominal value of EGP 10 per share, according to a bourse filing.

Last month, the board greenlighted a 15% hike in the company’s issued capital to EGP 1.14 billion from EGP 991.70 million.

In the first nine months (9M) of 2022, EIPICO recorded an annual surge of 28.80% in consolidated net profits to EGP 417.79 million, versus EGP 324.17 million, including minority shareholders' rights.

The net sales enlarged to EGP 2.68 billion in 9M-22 from EGP 2.42 billion in 9M-21.

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