Macro Retail Offering 102x Oversubscribed🚀

Local Pickup🌇

Macro Retail Offering 102x Oversubscribed🚀

Macro IPO was heavily oversubscribed on the back of strong demand by retail investors. The total demand requested was 1,351,096,905 shares, which accounts for 102.16x of the 13,225,683 offered shares.

Investors who subscribed got around 0.98% of their requested shares.

In light of the high oversubscription, we’ll be holding webinars on the available investment opportunities on the Thndr app!

Click here to register.

E-Finance Plans to Invest EGP 2 Billion the Next Two Years🌱

E-Finance (EFIH) chairman Ibrahim Sarhan said the company is planning to invest EGP 2 billion in the coming two years using proceeds from the IPO.

More Details🧐 Part of the investment will be allocated to expanding EFIH’s non-bank financial services (NBFS) subsidiary “Khales Digital Payments”, while another part will be directed to developing the group’s technological infrastructure

The company also plans to expand its e-commerce subsidiary eAswaaq’s services in the tourism sector by offering digital solutions to the Ministry of Tourism.

E-Finance also announced the signing of a 10-year contract for its subsidiary e-Cards in Zimbabwe.

Under the contract, e-Cards will supply & manage smart-card solutions to Tres Groupe International (TGI), a market leader in health services.

MM Group Becomes Authorized Distributor of Apple Products in Egypt🍎

MM Group (MTIE) has signed an agreement with Apple Trading Egypt to become a non-exclusive authorized distributor of Apple products in the Egyptian market.

More Details🧐 The company said that sales are scheduled to start in Q3-2022.

Why is this Important🤔 Chairman of MTIE Khaled Mahmoud said the company will now be able to target a wider customer base & increase its market share in the mobile phone distribution market.

Redcon Construction Could IPO by 2024🏗

Redcon Construction has revived its plans to list a stake on the EGX as it looks to finance future expansion plans.

More on Redcon👷‍♀️ Redcon is a general contractor with a portfolio of projects in varied sectors such as residential, industrial, touristic, & medical, to name a few.

More Details🧐 Redcon initially had plans to IPO in 2019, which got delayed & then suspended with the rise of the pandemic.

Revival of talks about an IPO for Redcon was prompted after Redcon subsidiary “ROCC” launched its “Golden Gate” project in New Cairo.

Why is this Important🤔 Details of the size & timing of the offering are still undetermined, & will be influenced by conditions in global markets, such as inflation & rising interest rates by the U.S. Fed.

What else is Clapping👏

  • Raya Holding (RAYA) Explores Selling Stake in Aman Holding to International Organization

  • Export & Development Bank (EXPA) General Assembly Approves Increasing Capital from EGP 3.27 Billion to EGP 5.27 Billion

Global Pickup🌎

Bumble Dating App Makes its First Acquisition🍇

Dating app company Bumble (NASDAQ: BMBL) has made its first-ever acquisition after buying French dating app Fruitz.

More on Bumble💛 Bumble users can create a profile of themselves with pictures & they can swipe through other users. The company went public on February 10th, 2021, & its stock is down over 60% since then.

More on Fruitz🍇 Fruitz is popular among Gen Z users in Europe. It uses a swipe-based interface & a freemium model, similar to most dating apps out there.

More Details🧐 Terms of the deal were not disclosed.

Why is this Important🤔 Analysts believe there’s still a lot more room for dating apps to grow. 

Investment bank Piper Sandler (NYSE: PIPR) sees the global online dating market growing at a 13% compound annual growth rate, to reach almost $10 billion in 2025.


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