SPIAMCO's Morrocan subsidiary capital increase gains approval
Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO) (2070.SE) Moroccan subsidiary, Eve Pharma (70.65%-owned) approved at its EGM on 2 December 2016 a proposed capital increase from MAD250mn to MAD470mn. The EGM also approved changing the company’s name to “SPIMACO Morocco for Pharmaceutical Industries”. The new capital will finance setting up a new plant in Morocco, expected to finalize in 4Q17. (Tadawul) SPIMACO: SAR38.60 as of 04 December 2016, Rating: Buy, TP: SAR45.00 per share, MCap: USD1,235mn, SPIMACO AB / 2070.SE
This website uses cookies to make the site work, to understand if the site is working well, how it is being used, to connect to social media sites (such as Facebook and Twitter) and to collect information useful to allow us and our partners to provide you with more relevant ads . Some cookies are essential to make the site work, but you can control how we use non-essential cookies at any time by clicking the “ON/OFF” button next to each category. For more information about the cookies used on this site, see Privacy Policy.
Decide which cookies you want to allow.
Strictly Necessary
These cookies are essential in order to enable you to move around our website and use its features, such as accessing secure areas of our website. Without these cookies, any services on our Site you wish to access cannot be provided.
Analytical/performance cookies
Visitors use our website, for instance which pages you go to most often, and if you get error messages from web pages.