Cairo – Mubasher: Macro Pharmaceuticals Group (Macro Capital) announced the postponement of its initial public offering (IPO) on the Egyptian Exchange (EGX).
After coordinating and consulting with regulatory authorities, the company decided to delay the offering, according to a statement to the EGX on Monday.
“The determining factor in our decision is the market’s capacity to absorb multiple offerings,” the company said.
The date and timeline for the offering will be announced later.
Last week, the Egyptian Financial Regulatory Authority (FRA) approved the publication of the IPO prospectus of Macro Capital.
The prospectus includes the offering of up to 264.51 million shares or 45.8% of the cosmeceutical company in the secondary market.
The company has priced its share at a maximum value of EGP 6.15.
According to the prospectus, the public offering includes 13.22 million shares or 5% of the offered shares, representing 2.3% of the company’s issued capital.
The private offering includes 251.28 million shares or 95% of the offered shares, representing 43.5% of the company’s issued capital.