ArabFinance: Macro Group Pharma plans to go for an initial public offering (IPO) in the first quarter (Q1) or the second quarter (Q2) of 2021, becoming Egypt’s second IPO this year, Enterprise reported.
The company plans to offer 49% of its shares on the Egyptian Exchange (EGX), meaning existing shareholders will offer part or all of their stakes, and no new shares will be offered.
The sale will include offerings to both institutional investors in Egypt and abroad, as well as retail investors here at home.
In February, Taaleem Management Services Company, a subsidiary of the listed CI Capital, announced intentions to trade part of its shares on the EGX during Q1 2021.
Founded in 2005, Macro is now among Egypt’s largest and fastest-growing cosmeceutical players. The company recorded a 23.1% overall market share in 2020.
Macro manufactures its products at its Badr City facility. The company uses a prescription-based, consumer-centric model that relies on physicians. It also exports its products to markets in the Middle East and Africa, and could later see wider regional expansion.
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