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The Egyptian Exchange (EGX) celebrated today the company number 245 to join its main board, Macro Group Pharmaceuticals. The company is to be traded under ISIN code (MCRO.CA). The ringing of bell ceremony was held in the presence of Dr. Mohamed Farid Saleh, Executive Chairman of EGX, Macro Group for Pharmaceuticals top management, and related companies.
The offering was for 264.5 million shares, representing 45.8% of the company’s issued capital with a price of EGP4.85 per share and total value of EGP1.3 bn, distributed EGP1.2 billion in private offering, and EGP64.1 Million in public offering, with the participation of about 5,600 investors, 49.6% of which are new investors making 31% of the total offering.
Dr. Mohamed Farid, Executive Chairman of EGX, said that Macro Group Pharmaceuticals listing should encourage other companies to list and make use of the advantage of joining EGX’s platform for businesses growth. He stressed that listing new companies contributes to the economic growth of the country.
Dr. Farid continued: "The new offerings represent a key driver liquidity and adding new segment of investors," as capital markets play a major role in financing growing business which in turn provides job opportunities and supports Egypt’s economic and social development.
Dr. Ahmed Al-Nayeb, Chairman of Macro Group Pharmaceuticals expressed his pride in completing the offering process and starting a new phase of growth as a listed company in EGX.
He stated that the demand from the public and private offerings reflects the investment community’s confidence in the efficiency of the company’s business model and its ability to employ promising opportunities for growth.
