{"id":561180,"date":"2021-03-29T03:46:34","date_gmt":"2021-03-29T03:46:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/29\/macro-announces-price-range-for-ipo\/"},"modified":"2021-03-29T03:46:34","modified_gmt":"2021-03-29T03:46:34","slug":"macro-announces-price-range-for-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/29\/macro-announces-price-range-for-ipo\/","title":{"rendered":"Macro announces price range for IPO"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a> <strong>Macro Group Pharma has priced its initial public offering on the EGX at EGP 5.30-<\/strong><strong>6.15<\/strong> <strong>per share<\/strong>, according to <a href=\"https:\/\/ent.news\/2021\/3\/MACRO_PRICE-RANGE_ENG.pdf\">a statement released overnight (pdf)<\/a>. The transaction will see 45.8% \u2014 or some 264.5 mn shares \u2014 of Egypt\u2019s largest and fastest-growing cosmeceutical company offered in a secondary sale. The indicative price range values the company, pre-offering, at between EGP 3.1 bn and EGP 3.6 bn. The sale will include offerings to institutional investors in Egypt and abroad, as well as a retail offering for investors in Egypt only.<\/p>\n<p><strong>The timeline:<\/strong> Macro is kicking off the <strong>bookbuilding<\/strong> process now and will set a final offer price around 11 April. The <strong>subscription period for the retail portion<\/strong> of the offering is slated for 8-14 April. The issuer\u2019s shares are expected to be listed on the EGX on or around this Wednesday, 31 March, with <strong>trading scheduled to begin on 19 April<\/strong>, give or take. That puts Macro on track to stick with its <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1e88c485-96ea-49fe-8ead-e309bec221b6\">initially announced timeline<\/a> of pulling the trigger by late 1Q2021 or early 2Q2021.<\/p>\n<p><strong>What\u2019s Macro? <\/strong>The company, established in 2005, has a market share of just over 23%, or about 3x its closest competitor, with some 124 cosmeceutical products and one neutraceutical; it has nearly 80 additional products ready to roll out in 1Q and 2Q 2021. Macro sells its products over the counter, but physicians are its best allies: The company has over 550 people in its medical sales force that targets physicians and pharmacies nationwide and figures that \u201c85% of sales are estimated to be initially generated via prescription at the physician level.\u201d Despite the challenges of covid-19, Macro last year reported revenues of EGP 430.5 mn (with a 2018-2020 CAGR of 34%) and EBITDA of 187 mn (92% CAGR on the same period). The company\u2019s bottom line last year came in at 135.1 mn, good for a net margin of about 31%.<\/p>\n<p><strong>Advisors:<\/strong> CI Capital and Renaissance Capital are joint global coordinators and joint bookrunners. White & Case is international and (with MHR & Partners) local counsel, while Dechert LLP and Zaki Hashem & Partners are counsels to the joint global coordinators and bookrunners. Inktank is investor relations advisor.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Macro Group Pharma has priced its initial public offering on the EGX at EGP 5.30-6.15 per share, according to a statement released overnight (pdf). The transaction will see 45.8% \u2014 or some 264.5 mn shares \u2014 of Egypt\u2019s largest and fastest-growing cosmeceutical company offered in a secondary sale. The indicative price range values the company, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":561181,"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":[68,72,78,77],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-561180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-egx","tag-enterpriseam","tag-ipo-watch","tag-macro-group","wpautop","entry"],"acf":{"mongo_id":"2d689e02-cc68-4383-b4be-59a75b1e7580","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/3\/338.jpg","photo_position":"above","related_issue":[561175],"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>Macro announces price range for 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\/2021\/03\/29\/macro-announces-price-range-for-ipo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macro announces price range for IPO\" \/>\n<meta property=\"og:description\" content=\"Macro Group Pharma has priced its initial public offering on the EGX at EGP 5.30-6.15 per share, according to a statement released overnight (pdf). The transaction will see 45.8% \u2014 or some 264.5 mn shares \u2014 of Egypt\u2019s largest and fastest-growing cosmeceutical company offered in a secondary sale. The indicative price range values the company, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/29\/macro-announces-price-range-for-ipo\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-29T03:46:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/338.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\/2021\/03\/29\/macro-announces-price-range-for-ipo\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/29\/macro-announces-price-range-for-ipo\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Macro announces price range for IPO\",\"datePublished\":\"2021-03-29T03:46:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/29\/macro-announces-price-range-for-ipo\/\"},\"wordCount\":348,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/29\/macro-announces-price-range-for-ipo\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/338.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EGX\",\"EnterpriseAM\",\"IPO watch\",\"Macro Group\"],\"articleSection\":[\"IPO\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/29\/macro-announces-price-range-for-ipo\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/29\/macro-announces-price-range-for-ipo\/\",\"name\":\"Macro announces price range for IPO - 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Trading on shares is scheduled to begin on 19 April under ticker symbol MCRO.CA. The\u2026","rel":"","context":"In &quot;SPEED ROUND: IPO WATCH&quot;","block_context":{"text":"SPEED ROUND: IPO WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/308.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":565416,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/07\/retail-subscription-is-on-for-macro-group-ipo\/","url_meta":{"origin":561180,"position":1},"title":"Retail subscription is on for Macro Group IPO","author":"enterpriseam admin","date":"7 April 2021","format":false,"excerpt":"Retail investors who want shares of Macro Group's IPO on the Egyptian Exchange can start placing their orders as of this Sunday, 11 April, after the Financial Regulatory Authority (FRA) approved the company\u2019s prospectus yesterday, according to a disclosure (pdf) to the EGX. Would-be shareholders will have until next Thursday,\u2026","rel":"","context":"In &quot;SPEED ROUND: IPO WATCH&quot;","block_context":{"text":"SPEED ROUND: IPO WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/364.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":561180,"position":2},"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":[]},{"id":543524,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/06\/macro-group-sees-strong-demand-from-retail-investors-ahead-of-ipo\/","url_meta":{"origin":561180,"position":3},"title":"Macro Group sees strong demand from retail investors ahead of IPO","author":"enterpriseam admin","date":"6 February 2022","format":false,"excerpt":"The retail component of Macro Group Pharma\u2019s IPO was 6.49x oversubscribed at the close of Thursday\u2019s trading session, Amwal Al Ghad reports, citing unnamed sources. Retail investors have requested some 85.9 mn shares so far, with subscription set to close at the end of tomorrow\u2019s trading session. Macro wrapped up\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\/65.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":561180,"position":4},"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":543659,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/13\/macro-marks-egx-debut-says-its-eyeing-an-acquisition-this-year\/","url_meta":{"origin":561180,"position":5},"title":"Macro marks EGX debut, says it\u2019s eyeing an acquisition this year","author":"enterpriseam admin","date":"13 February 2022","format":false,"excerpt":"Leading cosmeceutical outfit Macro Group is doing due diligence on an acquisition with an eye to completing the transaction this year, Al Borsa quotes CEO Hisham Wasfy as saying at a press conference on Thursday after the company made its EGP 1.3 bn EGX debut. The company had acquired a\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\/159.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\/561180","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=561180"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/561180\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/561175"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/561181"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=561180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=561180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=561180"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=561180"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=561180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}