SPIMACO’s Moroccan subsidiary approves capital hike

04/12/2016 Argaam

Saudi Pharmaceutical Industries and Medical Appliances (SPIMACO) said that its Moroccan subsidiary E-Pharma approved raising its capital to MAD 470 million from MAD 250 million.

 

SPIMACO contributed MAD 169.4 million to E-Pharma’s capital raise, it said in a statement. It also subscribed MAD 151.8 million worth of shares and injected an additional MAD 17.6 million into the company’s capital.

 

The funds were financed from SPIMACO’s internal resources.

 

E-Pharma’s shareholders also approved rebranding the company to SPIMACO Morocco, after obtaining regulatory approvals.

 

E-pharma was established in 2000 as a limited liability company. The Morocco-based pharmaceuticals distributor is 62.68 percent owned by SPIMACO. 

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.