Memphis Pharmaceuticals and Chemical Industries—a subsidiary of the Holding Company for Pharmaceuticals, Chemicals, and Medical Supplies—is set to proceed with increasing its issued and paid-in capital from EGP 227.5 million to EGP 700 million. This increase will be executed through cash contributions, as well as by utilizing credit balances owed to the Holding Company to cover its portion of the capital increase. This move is intended to strengthen the company’s financial structure, bolster its solvency, and enhance its ability to meet its obligations, subject to the completion of all required legal procedures and the receipt of necessary official approvals. The Cabinet has approved the recommendation issued by the Cabinet’s State-Owned Enterprises Unit, authorizing the company to move forward with this capital increase.
