Macro Group Pharmaceuticals to offer USD 100 mn share on EGX

IPO WATCH- Macro Pharma looking to raise USD 100 mn in IPO: Macro GroupPharma is planning to sell an undisclosed number of its shares in an initial public offering on the EGX during 4Q2020 or 1Q2021, said Ahmed Rady, head of Alta Semper Direct Investment Company, which owns 60% of the shares of Macro Pharma, according to Al Mal. The company is looking to reel in USD 100 mn from the stock market debut, Rady said. Macro Pharma will finalize the process of hiring an investment bank to quarterback the offering next month.