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 Egypts 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 Egypts 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.

Copyright 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an as is and as available basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.