A Saudi company raises its stake in Egypt’s “Rameda” to 11%

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.

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