EGX welcomes Macro capital on its main platform, 5.6K investors participated in offerings

CAIRO - 10 February 2022: The Egyptian Stock Exchange (EGX) received Thursday the newcomer No. 245, Macro Group for Pharmaceuticals Company (Macro Capital), for trading under the symbol (MCRO.CA).

 

This took place in the presence of Mohamed Farid Saleh, Chairman of the EGX, and a number of company leaders and work teams responsible for promotion and offering, as well as a number of representatives of parties related to the market.

 

The EGX said in a statement, that the public and private offering of the Macro Group Company for Pharmaceuticals has been implemented for 264.5 million shares, representing 45.8 percent of the company’s issued capital shares at a price of LE 4.85 per share in two tranches (public and private) with a total value of LE 1.3 billion, distributed between LE 1.2 billion in the value of the private offering and LE 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 number of the offering shares were distributed over (public offering): 13.2 million shares, representing 5 percent of the total shares offered for sale, which represented 2.3 percent of the total issued shares of the company, while the number of private placement shares amounted to 251.3 million shares, representing 95 percent of the number of shares offered for sale, which represents 43.5 percent of the company's total issued shares, bringing the company's market capital to approximately LE 2.8 billion, before the start of trading on the company's shares on the stock exchange.

 

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.

 

He stressed that public offerings contribute to distributing the benefits of economic growth in companies whose securities are listed on the Egyptian Stock Exchange.

 

Farid continued, that the new offerings are a key driver to attract new liquidity and a new segment of investors, as capital markets play a major role in helping economic entities operating in various activities and sectors access the financing necessary for growth and expansion and achieve their vision, which contributes to providing jobs and supporting the targets of plans Economic and social development of different economies.

 

He explained that the Stock Exchange's management efforts continue to effectively communicate with many companies in various economic sectors to inform them of the advantages, procedures and steps of listing in the stock market, stressing the readiness of his administration to provide all kinds of support and assistance to companies wishing to list their shares in the stock market.

 

He also stressed that the new offerings would add new securities to the market, as well as attract liquidity through new or existing dealers, which motivates other public and private companies to offer, and works to enhance the supply side.

 

In this context, Ahmed Al-Nayeb, Chairman of the Company’s Board of Directors, said that the demand for public and private offerings reflects the investment community’s confidence in the efficiency of the company’s business model and its ability to employ promising growth opportunities, by adopting and implementing an integrated strategic vision and implementing targeted growth plans within the framework of effective contribution to develop the pharmaceutical industry.

 

Hermes acted as the sole global coordinator for the offering, while Renaissance Capital co-managed the offering.