Cairo – Mubasher: Advanced Pharmaceutical Packaging sold seven of its production lines in an auction on Wednesday.
The selling process came in the framework of a court rule issued in favor of the company’s former workers, said a bourse filling.
The total value of the sold lines amounts to EGP 567,000, the company added.
In December, the firm sold assets in return for EGP 501,500 through an auction, in the framework of a court rule issued in favor of the company’s former workers.
The court ruled against the pharmaceutical company ordering it to pay EGP 1.2 million to the former workers.
Advanced Pharmaceutical Packaging is capitalized at EGP 89.8 million distributed across 8.98 million shares at EGP 10 par value each.
