The Egyptian Exchange (EGX) announced that the completion of the initial public offering (IPO) and private placement of 45.8% of Macro Group Pharmaceutical’s (Macro Capital) (MCRO) issued capital at a total value of EGP 1.28 billion or EGP 4.85 per share.

The IPO has been implemented on 13.225 million shares, representing 5% of total offered shared for sale.

Meanwhile, the private placement has been carried out on 251.28 million shares, representing 95% of total offered shares.

Trading on Macro Capital’s issued shares is set to begin as of February 10th at a price of EGP 4.85 per share.

Founded in 2002, Macro Group is a leading Egyptian cosmeceutical company based in Cairo.