The EGX has approved the listing of Macro Group Pharmaceuticals’ shares on its database.
More Details🧐 In a first issue, EGP 115.47 million of Macro Group’s capital will be distributed over 577.36 million shares, with a par value of EGP 0.20/share. The shares will be listed today, January 13, 2022, under the ticker MCRO.
Why is this Important🤔 The listing of Macro Group’s shares on the EGX’s database does not mean the shares are tradable. The FRA must first approve Macro’s prospectus, followed by the EGX’s approval for the start of trading, similar to Nahr Elkhair’s (KRDI) recent situation. Head of the FRA Mohamed Omran expects Macro Group to list on the EGX by January 23rd, 2022.
It’s worth noting that KRDI is expected to begin trading as soon as it receives the green light from the FRA on its prospectus. KRDI is eligible to skip the IPO process & list its shares in a direct listing because it has 466 current shareholders, meeting the minimum criteria of 300 shareholders to skip the IPO process. Osoul Arabia Financial Consultants acting as independent financial advisors for KRDI’s listing.
