By Aduragbemi Omiyale
After the successful competition of its initial public offering (IPO), Alta Semper Capital has exited Macro Group Pharmaceuticals, a leading cosmeceuticals manufacturer in Egypt.
Since Macro Group became a portfolio holding of Alta Semper in 2017, the latter has supported the former in nearly doubling its market share.
Today, its diversified portfolio encompasses 112 products across a variety of high-growth therapeutic areas, with Alta Semper boosting Macro’s top line to $27 million by the end of 9 months of 2021, three times its 2017 revenues, while ensuring profitability and increasing its EBITDA and bottom-line to $11 million and $10 million respectively during the same period, nearly 3x its 2017 levels.
It was learned that shares of Macro Group began trading on February 10, 2022, in a Reg S, 144 A initial public offering under the symbol MCRO:CA on the Egyptian Exchange and the final offer price stood at EGP 4.85 per ordinary share or 2.8 bn EGP (equivalent to $178 million).
The co-founder and CEO of Alta Semper, Afsane Jetha, while commenting on the development, stated that, “We are proud of our successful journey with Macro Pharmaceuticals and its tremendous growth on the financial, operational, organizational and social impact level during the tenor of our partnership.
“It has been a pleasure working alongside such a skilled and motivated management team as they established a leadership position in Egypt’s burgeoning…
