{"id":565387,"date":"2021-04-06T13:40:21","date_gmt":"2021-04-06T13:40:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/tonight-two-big-ipos-and-the-jaw-fest-in-kinshasa-are-keeping-us-on-the-edges-of-our-seats\/"},"modified":"2021-04-06T13:40:21","modified_gmt":"2021-04-06T13:40:21","slug":"tonight-two-big-ipos-and-the-jaw-fest-in-kinshasa-are-keeping-us-on-the-edges-of-our-seats","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/06\/tonight-two-big-ipos-and-the-jaw-fest-in-kinshasa-are-keeping-us-on-the-edges-of-our-seats\/","title":{"rendered":"TONIGHT: Two big IPOs and the jaw-fest in Kinshasa are keeping us on the edges of our seats"},"content":{"rendered":"

Good afternoon, wonderful people<\/strong>, and happy almost-almost-THURSDAY. It\u2019s a brisk but unremarkable afternoon, but there\u2019s big news around the corner that has us sitting on the edge of our seat:<\/p>\n

<\/a> HAPPENING NOW- Finance nerds have plenty to watch as two of the most hotly <\/strong>anticipated IPOs in forever speed toward the finish line. <\/strong>The Financial Regulatory Authority greenlit today the listing of 45.8% \u2014 or some 264.5 mn shares \u2014 of Macro Pharma, Egypt\u2019s largest and fastest-growing cosmeceutical and neutraceutical company, according to an EGX disclosure (pdf)<\/a>. The shares will be offered in a secondary sale and are scheduled to start trading on the EGX on 19 April<\/a>. The company has priced its initial public offering at EGP 5.30-6.15 per share, which would value the company at between EGP 3.3 and 3.6 bn. The subscription period for the retail portion of the offering is slated for 8-14 April<\/a>.<\/p>\n

Get the rundown on Macro<\/strong>, the transaction and its fundamentals here<\/a>.<\/p>\n

FOR TOMORROW- Multi-brand education platform Taaleem will make its trading debut on <\/strong>the EGX <\/strong>on Wednesday. Shares in the higher education management company will open at EGP 5.75 under the ticker TALM after the IPO met strong appetite from global institutional investors, local firms and retail investors.<\/p>\n

Get the rundown on Taaleem<\/strong>, the transaction and its fundamentals here<\/a>.<\/p>\n

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<\/a> To borrow from Mr. Twain: Reports of the end of the jaw-fest in Kinshasa were greatly <\/strong>exaggerated. <\/strong>Egypt and Ethiopia are still talking GERD in the DRC, with talks that reportedly wrapped up yesterday extended until this evening as Egypt, Sudan and Ethiopia wrangle over the wording of the post-meeting press release, Al Arabiya<\/a> reports. Cairo and Addis Ababa don\u2019t see eye-to-eye on when and how to hold the next round of negotiations. Ethiopia remains opposed to bringing outside mediators including the US, UN, and EU to the table, preferring to stick with an African Union-led process.<\/p>\n

We\u2019re keeping an eye out: The talks are currently underway in the Congolese capital.<\/strong> Foreign Minister Sameh Shoukry said this week<\/a> on the sidelines that this is the last chance for Egypt, Ethiopia, and Sudan to reach an agreement on filling and operating the dam before the rainy season kicks in. Previous reports have suggested that leaders could step in for a higher level summit if those meetings continue to fail.<\/p>\n

That joint statement may not be coming? <\/strong>The Foreign Ministry issued a statement just as we were hitting \u201csend\u201d on this afternoon\u2019s edition saying that talks (on re-starting talks) had failed as Ethiopia rejected a joint proposal from Egypt and Sudan. We\u2019ll have the full story in tomorrow\u2019s EnterpriseAM.<\/p>\n

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CATCH UP QUICK<\/strong> on the top stories from this morning\u2019s issue of EnterpriseAM:<\/p>\n