Macro Group Publishes Prospectus🔔

Local Pickup🌇

Macro Group Publishes Prospectus

Macro Group Pharmaceuticals (MCRO) has released its prospectus ahead of its highly anticipated IPO.

More Details🧐 The FRA approved Macro’s prospectus yesterday, January 23rd, 2022, for the listing of 45.8% of the company’s shares on the EGX.

The IPO price range will have an EGP 6.05/share ceiling, giving the company a market capitalization up to EGP 3.5 billion.

Over 13 million shares representing 5% of the offering size will be available for public subscription from January 24, 2022, to February 7, 2022. 

The minimum public subscription order is 100 shares.

Why is this Important🤔 Macro Group is the cosmeceuticals industry leader with a market share of 23.1%, more than triple its closest competitor. Thndr will be hosting a webinar this Thursday to discuss the offering in more detail.

Nahr Elkhair Starts Trading Tomorrow📊

61.5% of Nahr El Khair’s (KRDI) shares will begin trading on the EGX tomorrow, January 25th, 2022.

More Details🧐 KRDI will open tomorrow’s session at EGP 0.25/share, & will not be subject to price limit movements or intraday suspensions for its first trading session only.

Why is this Important🤔 The company’s capital grew from EGP 2 million in 2011 to EGP 200 million today, according to managing director Ahmed Elsayed.

Nahr El Khair is targeting EGP 130 million in sales in 2022, compared to EGP 87 million in 2021, a 50% year-over-year increase.

Speed Medical Reveals Latest Acquisition Developments🔬

Speed Medical (SPMD) has signed two purchase contracts for the acquisition of Nour El Eslam & El Sharq laboratories, while the acquisition of City labs fell through.

More Details🧐 Nour El Eslam labs owns three branches in Beheira & Kafr El Sheikh, while El Sharq labs own two branches in Kafr El Sheikh.

The company also revealed that the acquisition of 50% + 1 share of City labs has fallen through, after failing to obtain the Ministry of Health’s approval. 

Why is this Important🤔 The acquisition cost of Nour El Eslam labs stood at EGP 6.5 million, while El Sharq labs cost EGP 2.5 million. The deal for City labs would have cost EGP 27.4 million.

What else is Clapping👏

  • Cleopatra Hospitals (CLHO) Partners to Establish Proctology Center

  • Fawry (FWRY) to Launch Investment Fund Managed by Misr Capital

Global Pickup🌎

Anghami One Step Closer to NASDAQ Listing🎶

The merger between Anghami & SPAC company Vistas Media Acquisition (NASDAQ: VMAC) has been approved by the latter’s shareholders.

More Details🧐 98% of the votes were in favor of the merger, with the merger expected to close once “closing conditions” are finalized.

Anghami’s common stock can be found under the ticker “ANGH” once the deal is finalized.

Why is this Important🤔 The deal values Anghami at $220 million, & makes it the second Arab company to list on the NASDAQ in 25 years (Aramex was last), & the first Arab tech startup to do so. 

Shares of VMAC soared more than 10% following the announcement.

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