Seventh Saudi Investment Company has increased its stake in Tenth of Ramadan Company for Pharmaceutical Industries and Diagnostic “Rameda” at 11.01% instead of 4.51%.
According to a disclosure on the site web of the Egyptian Stock Exchange, today, Tuesday, the Saudi Seventh Investment Company signed an agreement to acquire 65 million shares, for a value of 135.2 million pounds, at an average price of 2.08 pounds per share.
The purchase was made by Arqam Company for Securities Trading.
Interestingly, Rameda made a net profit of around £ 180 million in the last year, compared to around £ 111.5 million in 2020, taking into account minority rights.
Read More About: Business News