The largest and one of the fastest-growing cosmeceutical companies in Egypt is going public next week (Learn more about IPOs). The IPO price range is set between EGP 5.30 and EGP 6.15 per share. The first day of trading is expected to be on or around April 19, 2021.
Watch the Thndr Macro Webinar Below for all the information you need to know about the IPO.
Established in 2005, Macro Group leads Egypt’s fast-growing cosmeceuticals space with a market share of 23.1% recorded in 2020. Macro Group boasts a diversified portfolio of 125 marketed SKUs, which consists of 124 cosmeceutical SKUs and one nutraceutical SKU.
The offering consists of a 100% secondary sale of shares amounting to 264 M shares, representing 46% of the company. A secondary sale means no new shares will be offered, the selling shareholders will be offering some of the shares they already have to the public.
5% of the total offering (~75 million EGP) is allocated to individual (non-institutional) investors – Who should submit their orders between Sunday, April 11 and Thursday, April 15. It is pretty common in IPOs to receive orders for more than the allocated amount. In such a case, allocation is then to be made on a pro-rata basis.
- Offering size: 100 million EGP
- Orders submitted by individual investors: 400 million EGP
- Subscription coverage: 4 times
- Allocation: each individual investor to receive 25% of what they asked for
The Best Part of It – Your Investment in the IPO is protected
The selling shareholders have established a stabilization fund that covers 100% of the IPO retail offering. The purpose of the fund is to offer investors the chance to return their shares to the selling shareholder at the same IPO price after 30 days. This means that if the price of the stock falls below the IPO price within the first 30 days, you can sell it back at the same price you bought it for. You heard that right, you have nothing to lose.
How can you be part of this?
- Download Thndr app and open an investment account – If you already have an account with Thndr, you are good to go.
- Fund your account with at least 25% of your required investment amount.
- Send an email with your subscription order to firstname.lastname@example.org
- Post allocation, you will be requested to fund the balance of your allocated investment, if needed be
- If you still need more information watch our Macro IPO webinar
The “Public Subscription Note”: This tell-all document is required of all companies going public in Egypt and should include all information about the company. It should be required reading for anyone thinking of investing. It also includes the how-much-the-company-is-valued at report that was performed by Grant Thornton , an independent financial advisor, who is registered with the Financial Regulatory Authority of Egypt.
The “Intention To Float”: Brief document developed by the company highlighting the value proposition