Egypt’s FRA approves Rameda listing on EGX

Financial Regulatory Authority (FRA) has approved the listing of Rameda Pharmaceutical Company on the Egyptian Stock Exchange (EGX), according to chairman Morhamed Omran.

He added during a conference announcing the issuance of the first short-term securitization issuance of Premium Card that the first tranche of the offering ranges between 2 billion Egyptian pounds and 2.5 billion pounds.

According to the proposed schedule, the offering will be completed before the end of 2019, he noted.

Rameda announced earlier its intention to offer a 35-45 percent stake in EGX by the end of last year through a capital increase and partial exits to shareholders.