Egypt’s Rameda Pharmaceutical to float 49% stake on bourse

Egypt’s Rameda Pharmaceuticals said on Wednesday it would float 49 percent of its shares on the the Egyptian stock exchange (EGX) and expected to start trading on Dec. 11.

Rameda hopes to raise 1.755 billion Egyptian pounds ($109 million) in the share offer, which will be made in two tranches and priced at 4.66 pounds per share, it said in a prospectus published in Egyptian newspapers.

Source: Reuters