11 December 2019 — Compass, a leading private equity firm focusing on value investing, has successfully completed its initial public offering of ordinary shares on the Egyptian Exchange (“EGX”). The Company’s ordinary shares began trading this morning at 10:00am CLT under the symbol RMDA.CA, opening at EGP 4.66 per share. Rameda’s market capitalization at the opening bell stood at EGP 3.6 billion.
Trading begins after an institutional offering process that saw Greville Investing Limited (the “Selling Shareholder”) offer 357,775,700 Shares to qualified institutional investors in a number of countries including Egypt and a further 18,830,300 Shares offered to retail investors in Egypt. The Company engaged HSBC Bank plc and Investec Bank plc (“Investec”) to act as Joint Global Coordinators and Joint Bookrunners, CI Capital Investment Banking S.A.E. (“CI Capital”) to act as a Joint Bookrunner for the transaction and Compass Capital for Financial Investments (“Compass Capital”) as IPO advisor. For the avoidance of doubt, HSBC and Investec were appointed as Joint Global Coordinators and Joint Bookrunners in connection with the International Offering only
“The listing of Rameda on the Egyptian Stock Exchange marks a milestone for the management to further unlock their growth ambitions across Egypt and the Middle East. Today’s transaction will allow provide early investors to a liquidity event to cash out some of their shares realizing exceptional investment returns. The company plans to use the proceeds raised from the IPO to finance operational expansion, molecule acquisitions and opportunistic value accretive acquisition of pharmaceutical companies”, said Shamel Aboul Fadl Founder & Chairman of Compass Capital.
In 2011, Compass Capital led a consortium that acquired 100% of the Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda), a leading Egyptian pharmaceutical company with a broad portfolio of human and veterinary products. Compass Capital’s specific initiatives have enabled the company to achieve significant milestones.
Notes for Editors
Compass is a leading private equity firm focusing on value investing. The firm’s multi-disciplinary team has a long and successful track record of generating attractive investment returns having successfully executed numerous transactions requiring capital flexibility, financial restructuring, and operational turnaround. Compass follows a disciplined investment approach that hinges on defining strategic initiatives, agile implementation of strategy, supporting talented management, and providing required growth capital to drive growth. The company is a principal investor in its own transactions and actively works to ensure that the interests of all stakeholders are aligned in the investments it pursues.
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