Cairo – Mubasher: The Cabinet approved the recommendation issued by the Cabinet's State-Owned Enterprises Unit, approving Memphis Pharmaceuticals and Chemical Industries, a subsidiary of the Holding Company for Pharmaceuticals, Chemicals, and Medical Supplies, to proceed with the procedures for increasing its issued and paid-up capital from EGP 227.5 million to EGP 700 million in cash, and through the utilization of the credit balances owed to the holding company to finance its share in the company's capital increase. This contributes to strengthening the company's financial structure, supporting its financial solvency and ability to meet its obligations, after fulfilling all prescribed legal procedures and approvals in this regard.
The recommendation issued by the Cabinet's State-Owned Enterprises Unit was also approved regarding authorizing the Nile Company for Pharmaceuticals and Chemical Industries, a subsidiary of the Holding Company for Pharmaceuticals, Chemicals, and Medical Supplies, to proceed with the procedures for increasing its issued and paid-up capital from EGP 500 million to EGP 1 billion in cash. This contributes to strengthening the company's financial structure, supporting its financial solvency and ability to meet its obligations, after fulfilling all prescribed legal procedures and approvals in this regard.
