Saudi Seventh Investment hikes its stake to 11% in Egyptian pharmaceuticals firm 

  • 4/26/2022
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RIYADH: Saudi Seventh Investment Co. has bought an additional stake of 6.5 percent in the Egyptian firm Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents, or Rameda, in a deal valued at 135 million Egyptian pounds ($7 million). Upon the deal, the Saudi company"s ownership in Rameda"s capital will increase to a total of 11 percent, up from 4.5 percent, according to a filing to the Egyptian stock exchange. The deal included the purchase of 65 million shares, at a price of 2.08 Egyptian pounds per share.

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