Cairo – Mubasher: The extraordinary general meeting (EGM) of Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) approved a capital hike to EGP 500 million from EGP 377.74 million.

The shareholders agreed to increase the company’s issued capital within the authorized capital limit by EGP 122.25 million, according to a bourse disclosure.

Rameda indicated that the increase will be financed through the issuance of bonus shares, using its distributable net profits, including the 2024 profits and retained earnings.

As of 31 December 2024, the EGX-listed firm logged net profits amounting to EGP 401.80 million, an annual surge from EGP 253.20 million.

Revenues hiked to EGP 2.76 billion in 2024 from EGP 1.92 billion in 2023.