Rameda Pharma is planning to expand sales to 10 new Gulf and African markets in the medium term as part of its post-IPO expansion plan, the local press reports, without disclosing the planned investment value. New markets on Rameda’s radar include Uganda, Tanzania, Ivory Coast, and Palestine, while the company will expand its business in existing markets including Saudi Arabia, the UAE, and Nigeria.

Rameda was one of two companies to debut on the EGX last year. The company’s shares dipped on the first day and lost a total of 9% of its value since going to market, but HSBC said in a research note last week that it expected the company’s operational performance to see a “sharp recovery” in 2020.

Tags: