IPO WATCH- Ibnsina Pharma has priced its initial public offering on the Egyptian Exchange at EGP 5.21-5.95 per share, according to a statement released overnight (pdf). The transaction will see about 40% of the company (or some 269 mn shares) offered for sale, with the shares split between institutional investors (85% of the offering) and individual investors (15% of the offering). At the midpoint of the indicative price range, Egypt’s fastest-growing and second-largest distributor of pharma products would have a market cap of c. EGP 4 bn following completion of the associated capital increase. “The final price announcement will be determined in accordance with a book-building process and is expected to occur on 5 December 2017,” the company said. The offering to retail investors in Egypt will run 3-7 December, with trading expected to start on Monday, 11 December 2017. The announcement comes after the Financial Regulatory Authority approved Ibnsina’s public subscription notice. Beltone Investment Banking is acting as sole global coordinator and bookrunner and Matouk Bassiouny is acting as counsel to the issuer. Inktank Financial is investor relations advisor.

MOVES- Ibnsina has appointed our friend Mohamed Shawky as investor relations officer. Mohamed is well-known to veterans of the Egyptian IR community from his service as investor relations manager at Egyptian Resorts Company (2010-2014) and earlier runs on staff at the Egyptian Exchange. Shawky joined Ibnsina from Kuwait’s Mezzan Holding, where he was head of investor relations starting in late 2014.