About 5,600 investors participated in the public and private offerings, of whom 49.6 percent were new investors who bought about 31 percent of the total offering
The Egyptian Exchange (EGX) welcomed cosmeceuticals giant Macro Group for Pharmaceuticals Company (Macro Capital) today after it raised EGP 1.3 billion in its initial public offering (IPO) that valued the company at EGP 2.8 billion.
This is the 2nd IPO of 2022, which saw Al Khair River for Development and Investment’s (aka Nahr El Khair) IPO and entry into the EGX last month.
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The group offered 45.8% of its capital shares at EGP 4.85 per share in two tranches (public and private) with a total value of EGP 1.3 billion, distributed between EGP 1.2 billion in the value of the private offering and EGP 64.1 million in the value of the public offering, with the participation of about 5,600 investors in the public and private offerings.
The IPO saw around 5600 investors participating in the retail and institutional offerings, the EGX said, around half of whom were new investors.
About 5,600 investors participated in the public and private offerings, of whom 49.6 percent were new investors who bought about 31 percent of the total offering.
For his part, Mohamed Farid, Chairman of the Egyptian Stock Exchange, said that the listing, offering and starting trading on the Macro Group for Pharmaceuticals is an important step that will encourage the rest of the companies to offer and trade to take advantage of the Egyptian Stock Exchange platform in achieving their goals and business plans.
Foreign institutions from outside Egypt had acquired about 75-80% of the private placement of the Macro Group for Pharmaceuticals (Macro Capital), according to co-head of the promotion and underwriting sector at EFG-Hermes, Mostafa Gad, said.
Gad said in statements on the sidelines of a press conference, Thursday, that the institutions vary between the Gulf countries and South Africa.
