The Clap
Sources told Al Mal that the European investment fund, Mediterrania Capital is interested in acquiring a stake in EGX-listed pharmaceutical producer EIPICO.
What
The investment fund is in discussions with Acdima, the company’s major shareholder, to become part of EIPICO’s ownership structure by raising its capital by 25%, and the proceeds will be paid in USD.
So What
Following the news, EIPICO’s stock went up by 4.47% during yesterday’s trading session.
Now What
EIPICO later denied the news, stating that it didn’t receive any offers from Mediterrania Capital.
