FRA approves prospectus for offering of Macro Group Pharmaceuticals

CAIRO - 24 January 2022: The Financial Regulatory Authority (FRA) has approved the prospectus for the offering of Macro Group Pharmaceuticals-Macro Capital, with the aim of selling a maximum of 264.51 million shares or 45.8 percent of the company’s capital through offering in the secondary market at a maximum price of LE 6.05 per share.

 

According to the FRA filing to the Egyptian Exchange (EGX), Sunday, the authority asked the company to submit pledges to the stock exchange before the offering that the percentage of the main shareholders’ retention in the company shall not be less than the percentage specified in accordance with Article 7 of the rules for listing and delisting securities, without any responsibility on the FRA.

 

On January 12, the EGX’s Securities Listing Committee agreed to list the shares of Macro Group Pharmaceuticals (Macro Capital) on the main market.

 

The issued capital of Macro Capital amounts to LE 115.4 million, distributed over 577.3 million shares, with a nominal value of 0.20 pounds per share.

 

The stock exchange clarified in a previous statement that its shares will be listed in the Egyptian securities listing (shares), the main market, and the company’s shares will be listed on the stock exchange’s database as of Thursday, January 13, with 577.3 shares with a nominal value of 20 piasters per share, with a capital Sourced and paid LE 115.4.

 

The company will be housed in the (Healthcare and Pharmaceuticals) sector, and a (Ticker Symbol) has been allocated to the company, which is MCRO.CA.

 

According to the statement, the company intends to offer 45 percent of its total shares distributed between a public and private offering, a month after the registration at the FRA  which took place on December 23, 2021, with no dealings on the company’s shares during that period from the date of registration until the start of trading on these shares, except with the approval of the authority.