Macro Group delays Egypt IPO plans

Macro Group, one of the largest and the fastest growing cosmeceutical companies in Egypt, is delaying its planned initial public offering (IPO), which was expected to take place this month.

Despite strong appetite from international institutional investors, Macro said in a bourse filling on Sunday that the decision was due to concerns about “the market’s capacity to absorb multiple offerings” following Taaleem’s debut on the Egyptian bourse last week. This is besides Integrated Diagnostics Holding’s (IDH) plans to pull off the country’s first technical listing.

The decision came after the company consulted regulatory authorities, Macro added.