Coronation Africa raises stake in Macro Pharmaceutical to 5.11%

Updated 3/8/2023 11:26:00 AM
Coronation Africa raises stake in Macro Pharmaceutical to 5.11%

Arab Finance: Coronation Africa Frontiers Fund Universal (CORAFFA) raised its stake in Macro Group Pharmaceutical (Macro Capital) (MCRO) from 4.89% to 5.11%, according to a statement filed to the Egyptian Exchange (EGX) on March 8th.

The fund bought 1.3 million shares of Macro Pharmaceutical at a total value of EGP 4.222 million or an average purchase price of EGP 3.23 per share.

Macro Pharmaceutical posted a 17.51% year-on-year (YoY) increase in its consolidated net profits after tax and non-controlling interests during the full year ended December 31st 2022.

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

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