Cairo – Mubasher: DBK Pharma is planning a dual-listing on the Egyptian Exchange (EGX) and the Saudi Stock Exchange (Tadawul) in the first half of 2019.
The pharmaceutical firm is considering to offer about 25% stake on the two markets, sources told Enterprise.
Proceeds of the anticipated initial public offering (IPO) will be used to establish a new manufacturing facility in Obour city to produce sterilizing medical equipment and fluids, in addition to strengthening marketing and production abilities to obtain more medicines.
DBK Pharma’s current capital amounts to EGP 149.1 million, distributed at 149.1 million shares at a par value of EGP 1 per share.
In February, Saudi Arabia’s Marie Binmahfouz Group had acquired a 25% stake in DBK Pharma at a value of EGP 38.5 million.