IPO WATCH- Market regulator gives Rameda green light on public subscription notice: The Financial Regulatory Authority (FRA) has approved Rameda Pharma’s public subscription notice (pdf) to local investors for its initial public offering on the EGX, according to a statement to the bourse (pdf). Rameda has announced (pdf) that it will offer 376,606,000 shares at a price of EGP 4.66 per ordinary share in its IPO.

Greville Investing, the selling shareholder, will offer 357,775,700 shares to institutional investors in an international offering, while the remainder are earmarked for retail investors in Egypt. You can find more information in the company’s intention to float (pdf) from last month.

The subscription period for the transacation’s retail offering is set to begin today, an unnamed company official tells Reuters. Trading is expected to get underway on 11 December under the ticker RMDA.

Advisors: HSBC and Investec are joint global coordinators and bookrunners for the international offering, while CI Capital is joint bookrunner. Compass Capital is the IPO advisor, and Inktank is investor relations advisor.