IPO WATCH- Ibnsina Pharma launches today its offering to retail investors as part of its IPO of up to 40% of its total shares. Shares in the IPO are split between institutional investors (85% of the offering) and individual investors (15% of the offering). The retail offering continues until Thursday, 7 December. Book-building for the offering will be completed by Tuesday, 5 December, at which time the final price will be set. The company is guiding on pricing at EGP 5.21-5.95 per share. Trading is expected to start on Monday, 11 December. The institutional offering on the IPO has already garnered interest from some 150 financial institutions following a roadshow in Europe, Africa and the GCC, said Mustafa Abdul Aziz, head of brokerage at Beltone Financial, the sole global coordinator and bookrunner on the transaction. He tells Al Borsa that the investment bank completed the roadshow with its final stop in London, following successful meetings in Saudi Arabia, the UAE, Germany, and South Africa among other places. Matouk Bassiouny is acting as counsel to the issuer. Inktank Financial is investor relations advisor.

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