Macro Group Pharmaceuticals will continue the procedures of its listing on the Egyptian Exchange (EGX) through an initial public offering (IPO) by the end of 2021 or early 2022, the company’s chairman Ahmed El Nayeb told Al Borsa Newspaper.

The evaluation of the company is expected to increase over the coming period, he added, noting that this is the reason why the IPO has been postponed.

The Listing Committee at the EGX had previously decided to delete Macro Group’s data from the EGX’s database as of September 1st as the group did not meet the requirements and standards of listing.

Founded in 2002, Macro Group is a leading Egyptian cosmeceutical company based in Cairo.