{"id":542727,"date":"2022-01-13T03:35:30","date_gmt":"2022-01-13T03:35:30","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/one-step-closer-to-macros-ipo\/"},"modified":"2022-01-13T03:35:30","modified_gmt":"2022-01-13T03:35:30","slug":"one-step-closer-to-macros-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/one-step-closer-to-macros-ipo\/","title":{"rendered":"One step closer to Macro\u2019s IPO"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>Cosmeceuticals giant <\/strong><strong><a href=\"https:\/\/macro-egy.com\/\">Macro Group<\/a><\/strong><strong>\u2019s shares <\/strong><strong>will be listed<\/strong><strong> on the EGX today<\/strong> after receiving the blessing of the bourse\u2019s listing committee yesterday, according to an <a href=\"https:\/\/ent.news\/2022\/1\/EGX-AR-PRL.pdf\">EGX statement (pdf)<\/a> yesterday. The listing will pave the way for company\u2019s plan to offer up to 45.8% of its shares (which will trade under the stock ticker MCRO.CA) in a transaction that could value the company at as much as EGP 3.5 bn, the Financial Regulatory Authority (FRA) said <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d209b00e-3051-472d-89d7-1bdc2b7588df\">last month<\/a>.<\/p>\n<p><strong>When will Macro go ahead with the sale of shares? <\/strong>The FRA gave Macro <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48d0dc09-939b-4b95-8dbb-a96e8e4b2f29\">the green light<\/a> last month to offer shares to investors, setting a late-January window for the transaction. Macro plans to make its EGX debut sometime in the first quarter of 2022, a source familiar with the matter told Enterprise in December, adding that the exact timeline for the IPO has not yet been set. Market conditions are critical to the timing of any IPO. The FRA has lately telegraphed that it could be flexible on the deadline to complete transactions for companies that have listed their shares, but not executed sales.<\/p>\n<p><strong>Background:<\/strong> Macro Group <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/75b46198-eeb9-4f78-81cf-25219caf31c2\">postponed its IPO plans<\/a> in April 2021 despite strong appetite from international institutional investors, citing concern for the market\u2019s capacity to absorb a packed offerings schedule on the EGX. The company was about to kick off retail subscription when the listing was postponed, with <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2d689e02-cc68-4383-b4be-59a75b1e7580\">shares priced at between EGP 5.30-6.15 apiece<\/a>, valuing the company at EGP 3.1-3.6 bn. Sources told us last month that the company would start the book building process from scratch following the holiday season.<\/p>\n<p><strong>Advisors:<\/strong> Our friends at EFG Hermes is quarterbacking the transaction as sole global coordinator. EFG Hermes and Renaissance Capital are acting as joint bookrunners, while White & Case is counsel to the issuer. Inktank is investor relations advisor to Macro.<\/p>\n<p><strong>More IPOs on the horizon:<\/strong> Our friends at healthy foods player <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/98bcedd8-3687-4806-9a48-9efe1527cb04\">Abu Auf<\/a> is looking to make its EGX debut in 2Q, while non-bank financial services outfit <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e2288438-1757-4a28-b7a4-8060a362753b\">Ebtikar<\/a> has also signaled it is looking to IPO, but refused to give us guidance on timing when we recently asked. The FRA last month gave approval for <a href=\"http:\/\/nahrelkhair.com\/about.php?p=about\">Nahr Elkhair Development and Investment<\/a> to list up to 61% of its shares on the EGX, with a fair value estimate of EGP 500 mn.<\/p>\n<p><strong>IN OTHER CAPITAL MARKETS NEWS-<\/strong><\/p>\n<p><strong>Real estate firm <\/strong><strong><a href=\"https:\/\/marseiliagp.com\/\">Marseilia Group<\/a><\/strong><strong>\u2019s shares will be listed on the EGX from next Thursday<\/strong>, 20 January, after making the jump from the small-cap Nilex, the EGX statement added. The EGX Listing Committee approved the company\u2019s EGP 28.8 mn capital increase, pushing its capital just north of the EGP 100 mn <a href=\"https:\/\/www.egx.com.eg\/en\/How_list.aspx\">capital requirement<\/a> for companies to list on the EGX, the bourse said In a separate <a href=\"https:\/\/ent.news\/2022\/1\/Marseilia-group-1600.jpg\">bulletin yesterday<\/a>. The increase will be financed by annual and retained earnings.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cosmeceuticals giant Macro Group\u2019s shares will be listed on the EGX today after receiving the blessing of the bourse\u2019s listing committee yesterday, according to an EGX statement (pdf) yesterday. The listing will pave the way for company\u2019s plan to offer up to 45.8% of its shares (which will trade under the stock ticker MCRO.CA) in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":542728,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7224],"tags":[68,72,76,78,77],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-egx","tag-enterpriseam","tag-financial-regulatory-authority","tag-ipo-watch","tag-macro-group","wpautop","entry"],"acf":{"mongo_id":"9db54ead-7801-4103-a4c2-cdfdd9cd59b7","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/1\/152.jpg","photo_position":"above","related_issue":[542723],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>One step closer to Macro\u2019s IPO - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/one-step-closer-to-macros-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"One step closer to Macro\u2019s IPO\" \/>\n<meta property=\"og:description\" content=\"Cosmeceuticals giant Macro Group\u2019s shares will be listed on the EGX today after receiving the blessing of the bourse\u2019s listing committee yesterday, according to an EGX statement (pdf) yesterday. The listing will pave the way for company\u2019s plan to offer up to 45.8% of its shares (which will trade under the stock ticker MCRO.CA) in [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/one-step-closer-to-macros-ipo\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-13T03:35:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/152.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/one-step-closer-to-macros-ipo\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/one-step-closer-to-macros-ipo\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"One step closer to Macro\u2019s IPO\",\"datePublished\":\"2022-01-13T03:35:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/one-step-closer-to-macros-ipo\/\"},\"wordCount\":470,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/one-step-closer-to-macros-ipo\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/1\/152.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EGX\",\"EnterpriseAM\",\"Financial Regulatory Authority\",\"IPO watch\",\"Macro Group\"],\"articleSection\":[\"IPO\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/one-step-closer-to-macros-ipo\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/13\/one-step-closer-to-macros-ipo\/\",\"name\":\"One step closer to Macro\u2019s IPO - 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The regulator gave Macro Group the greenlight on Sunday to offer up to 45.8% of its shares on the EGX, but its approval for the transaction that\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/512.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":554236,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/macro-group-revives-ipo-plans-for-1q2022\/","url_meta":{"origin":542727,"position":1},"title":"Macro Group revives IPO plans for 1Q2022","author":"enterpriseam admin","date":"27 December 2021","format":false,"excerpt":"Cosmeceuticals giant Macro Group Pharma may make its EGX debut\u00a0in the first quarter of 2022, a source familiar with the matter told Enterprise, adding that the exact timeline for the IPO has not yet been set. The company yesterday received approval from the Financial Regulatory Authority (FRA) to list on\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/489.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542515,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/02\/4-5-companies-could-sell-shares-on-the-egx-this-year-farid\/","url_meta":{"origin":542727,"position":2},"title":"4-5 companies could sell shares on the EGX this year -Farid","author":"enterpriseam admin","date":"2 January 2022","format":false,"excerpt":"Four or five companies could offer shares on the EGX in 2022, Hapi Journal reported EGX boss Mohamed Farid as saying last week. Ten companies have contacted the bourse regarding listing shares on the exchange, he said, without providing further details. In the running to become the first of 2022:\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/3.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542909,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/moving-closer-to-macro-group-ghazl-el-mahalla-ipos\/","url_meta":{"origin":542727,"position":3},"title":"Moving closer to Macro Group + Ghazl El Mahalla IPOs","author":"enterpriseam admin","date":"24 January 2022","format":false,"excerpt":"The Financial Regulatory Authority (FRA) has given Macro Group the green light to publish the public subscription notice for its upcoming IPO, according to an FRA statement (pdf) dated 20 January. The group will sell up to 264.5 mn shares \u2014 or 45.8% of the company \u2014 at a maximum\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/303.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562124,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/idh-shares-to-go-live-this-month\/","url_meta":{"origin":542727,"position":4},"title":"IDH shares to go live this month","author":"enterpriseam admin","date":"9 May 2021","format":false,"excerpt":"Integrated Diagnostics Holding (IDH) shares are expected to begin trading on the EGX on 20 May after the Financial Regulatory Authority (FRA) gave the all-clear last week for the London-listed company\u2019s dual listing, IDH said in a statement on Thursday. The company is planning to list a 5% stake (some\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/66.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543604,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/09\/egx-executes-macro-ipo\/","url_meta":{"origin":542727,"position":5},"title":"EGX executes Macro IPO","author":"enterpriseam admin","date":"9 February 2022","format":false,"excerpt":"The EGX has executed the sale of shares to investors who subscribed to Macro Group\u2019s IPO, which saw it offer a 45.8% stake to institutional and retail investors over the past week, the bourse said yesterday. Macro raised EGP 1.3 bn in the IPO, which saw it sell 264.5 mn\u2026","rel":"","context":"In &quot;IPO&quot;","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/117.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542727","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=542727"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542727\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/542723"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/542728"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=542727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=542727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=542727"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=542727"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=542727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}