UAE and Saudi Arabia dominate MENA IPO plans in 2023
EFG Hermes
Latest in EFG Hermes
Amazon
Amazon customers in Egypt offered financing option to buy now, pay later through EFG Hermes’ valU
Through valU’s consumer financing products, customers will have the option to split the total cost of Amazon purchases into multiple payments
DEWA
DEWA shares soar in DFM trading debut as EFG Hermes completes advisory role on $6.1 billion IPO
DEWA’s shares began trading on April 12 under the ticker DEWA UH EQUITY. The stock is trading at 2.89 dirhams after an offer price of 2.48 dirhams, which was the top end of the marketed range
acquisitions
UAE’s largest bank eyes majority stake in Egypt’s EFG Hermes
Egypt’s biggest investment bank says it received a non-binding offer from First Abu Dhabi Bank
acquisition
EFG Hermes Holding concludes aiBANK acquisition
Firm is now a universal bank in Egypt with a market-leading investment banking platform in frontier emerging markets (FEM)
EFG Hermes
Vortex Energy achieves $200 million first close for flagship fund Vortex Energy IV, targets investments in global Energy Transition
Backed by its stellar track record in the field of renewable energy, Vortex Energy is launching this new fund to tap into the burgeoning global interest in energy transition
Bedaya Mortgage Finance Co.
Bedaya Mortgage Finance Co. launches Egypt’s first non-bank mortgage finance mobile application
The first-of-its-kind application will bring to market the fastest and easiest access to competitive mortgage financing solutions through a seamless financing process that will help bolster the country’s non-bank mortgage sector
Arab Investment Bank
The digital drive to financial inclusion
Karim Awad, Group CEO of EFG Hermes Holding, believes Egypt’s banking sector will play a crucial role accelerating economic growth, and that the country’s young, tech-savvy population will bring more people into the financial fold
asset managers
Dubai investment firm FIM Partners considers raising SPAC
The Dubai-based investment firm could seek about $250 million for the blank-check company
Arab Investment Bank
The Sovereign Fund of Egypt and EFG Hermes Holding sign agreements for the acquisition of 76 percent of Arab Investment Bank
The transaction will be structured as a capital increase that will raise the paid-in capital of the Bank to EGP 5 billion; transaction received approval of the Egyptian Cabinet yesterday
EFG Hermes
EFG Hermes completes advisory on sale of 100% of Bank Audi S.A.E to First Abu Dhabi Bank
The deal marks the ninth transaction by EFG Hermes’ investment banking division in 2021 and is a continuation of the team’s longest streak of deals in a single year, which reached an all-time high of 24 transactions in 2020 worth an aggregate value of $1.7 billion
Arqaam Capital
Party mood sours in Saudi markets after $20bn bonanza
Analysts say concerns about Saudi Arabia’s reliance on oil and escalating tensions in the Gulf are coming back to the fore
Abu Dhabi Commercial Bank
OPEC oil output cuts curb Saudi Arabia’s economic growth
Gross domestic product expanded an annual 1.7% in the first quarter – down from 3.6% in the previous three month
Dino Varkey
Dubai’s GEMS exercises option to buy stake in Egyptian schools
Under agreement with EFG Hermes, GEMS plans to acquire more than 30 schools in Egypt over next five years
EFG Hermes
Kuwaiti stocks retreat ahead of FTSE implementation
EFG-Hermes expects $930 million in inflows to Kuwaiti stocks as a result of FTSE’s upgrade
Abraaj
Dubai’s Abraaj said to hire Citigroup for North Africa hospitals IPO
Private equity investors are taking advantage of a surge in demand for healthcare products and services in Africa and the Middle East
Arqaam Capital
Investors brace for FTSE verdict on Saudi Arabia, Kuwait
FTSE decision could spur a surge in inflows to both markets and be a prelude to MSCI inclusion next year