Retail investors have requested some 85.9 million shares so far, with the subscription period set to close at the end of tomorrow’s trading session
Ahead of its upcoming initial public offering (IPO), which may happen at the end of the week, Macro Group Pharma’s retail offering was 6.49x oversubscribed at the close of Thursday’s trading session, reported Amwal Al Ghad over the weekend.
Macro Group for Pharmaceuticals Company’s private offering was oversubscribed by 1.79x at a price of LE 4.85 per share on Wednesday.
Retail investors have requested some 85.9 million shares so far, with the subscription period set to close at the end of tomorrow’s trading session.
The group is looking to offer up to 45.8% of its shares on the EGX, representing 264.513 million shares, with 95% put aside for private placement/institutional investors and 5% for its retail offering.
With its EGP 4.85 share price confirmed by Macro in a statement last week, the IPO values the Macro Group Pharma at around EGP 2.8 billion, while the IPO itself is worth around EGP 1.3 billion.
Shares should start trading “on or around” this Thursday under the stock ticker MCRO.CA, according to Macro’s statement.
Macro Group holds more than 23% of the cosmeceutical market share in 2020, and maintains a portfolio of 112 shop-keeping units (or SKUs) and generates sales by targeting physicians and pharmacies nationwide.
