Arab Bank Egypt to provide EGP200mn financing to EgyDrug
Arab Bank Egypt has agreed to secure EGP200mn as part of EGP500mn loan arranged by ADIB Egypt in favor of the Egyptian Pharmaceutical Trading Company (EgyDrug). The financing will be used by to cover the company’s working capital needs. EgyDrug is a subsidiary of the Holding Company for the Pharmaceutical Companies. (Al Mal) ADIB - Egypt: EGP5.14 as of 19 Dec 2016, Rating: Buy, TP: EGP6.84/share, MCap: USD54mn, ADIB EY / ADIB.CA
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