Macro Group to IPO by End of January 2022🔔

Local Pickup🌇

Macro Group to IPO by End of January 2022🔔

Head of the FRA Mohamed Omran expects Macro Group to list on the EGX by January 23rd, 2022, according to CNBC Arabia.

More Details🧐 A 45.8% stake in Macro Group is set to be offered on the EGX, in a transaction valued around EGP 3.5 billion.

Why is this Important🤔 Macro Group had postponed its IPO back in April of this year on the back of fears of the market’s capacity to absorb multiple offerings in a short period of time (Taaleem had just gone public). The company had even released its prospectus & announced its IPO price range.

Earlier in September of this year, the group announced its plans to resume the procedures of listing on the EGX by the end of 2021 or early 2022.

MCI Capital Acquires 23% of Cleopatra Hospitals🤝

CI Capital (CICH) subsidiary MCI Capital has acquired 23% of Cleopatra Hospitals (CLHO) in an EGP 1.8 billion transaction.

More Details🧐 Holders of EGP 367.8 million CLHO shares have agreed to sell. The optional purchase offer was EGP 5/share, which values CLHO at EGP 8 billion. 

MCI Capital had hoped to acquire 26.2% of CLHO but now has to settle for 23%.

Why is this Important🤔 MCI Capital’s total stake in CLHO now stands at 26.8% as they already held a 3.8% stake before the deal. 

Global Pickup🌎

Didi Bans Employees from Selling Shares Indefinitely❌

Chinese ride-hailing app Didi has banned its former & current employees from selling company shares indefinitely. 

More Details🧐 The company went public on the New York Stock Exchange (NYSE) six months ago but announced it would delist from the NYSE due to tighter regulations on Chinese stocks in foreign exchanges. Didi is currently pursuing a listing on the Hong Kong stock exchange.

Employees had a lock-up period of 180 days post-IPO during which they couldn’t sell company shares. The 180 days ended yesterday. However, the company extended the lock-up period indefinitely.

Why is this Important🤔 Didi’s shares took another hit following the news, falling as much as 3.9% in pre-market trading. Didi’s shares have lost almost 60% of their value in the past six months, accounting for ~$41 billion in market value.

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