Home Industry Finance EFG Hermes completes advisory on Macro Group’s $83m IPO The IPO is the first listing of a cosmeceutical company on the Egyptian Exchange by Gulf Business February 11, 2022 EFG Hermes’ Investment Banking division has completed its advisory services on Macro Group Pharmaceuticals’ (Macro Group) EGP1.3bn ($83m) IPO, it announced on February 10. The IPO was recently listed on the Egyptian Exchange (EGX). EFG Hermes acted as the sole global coordinator for the transaction, as well as the joint bookrunner. Macro Group manufactures and sells cosmeceuticals and has recently ventured into nutraceutical products, a statement said. The company’s IPO – the first listing of a cosmeceutical company in Egypt – comprises a secondary sale of shares by the selling shareholder Leo 1 of up to 264.5 million existing shares. This represents up to 45.8 per cent of the company’s outstanding share capital listed on EGX. “The IPO highlights the rapid expansion of the industry as well as the growing demand for high-quality, innovative cosmeceutical products driven among Macro Group’s growing customer base,” said Mostafa Gad, EFG Hermes’ co-head of Investment Banking, who added that it was EFG Hermes’ first IPO of the year. EFG Hermes Successfully Completes Advisory on Macro Group Pharmaceuticals’ EGP 1.3bn IPO on the @EgxEgyptian pic.twitter.com/HLx2kTIIJU — EFG Hermes (@efghermes) February 10, 2022 As part of its work over the past year, the division served as joint bookrunner on the $795m listing of Fertiglobe on the ADX; joint bookrunner on the Dhs4bn listing of ADNOC Drilling on the ADX; joint bookrunner on the Dhs2.7bn listing of Yahsat on ADX; sole financial advisor and joint bookrunner on Fawry’s EGP1.2bn follow-on sale on the EGX, and joint bookrunner and underwriter on Alkhorayef Water & Power Technologies’ $144m IPO on Tadawul. The division also served as the advisor to TPG’s Evercare Group on the sale of its 50 per cent stake in Islamabad Diagnostic Centre (IDC) to Integrated Diagnostics Holding (IDH) for $72.35m. Read: EFG Hermes advises TPG’s Evercare Group on $72.4m IDC deal Earlier this week, UAE lender First Abu Dhabi Bank made a non-binding offer to EFG Hermes Holding for a potential cash acquisition of a majority stake. Read more: First Abu Dhabi Bank makes offer to acquire majority stake in EFG Hermes Holding Tags EFG Hermes Macro Group Pharmaceuticals Mostafa Gad 0 Comments You might also like EFG Hermes’ annual meet shines light on MENA investment opportunities BIG Holding’s $146.5m IPO draws orders worth $2.5bn EFG Hermes reveals five must watch sectors for 2024 Power Letters 2024: Moustafa Gad, head of Investment Banking of EFG Hermes, an EFG Holding Company