The agreement will accelerate the geographical expansion of valU and provide digital finance solutions to consumers in Saudi Arabia through FAS Finance
This is a significant milestone for EFG Hermes, as it’s the firm’s first IPO on Boursa Kuwait where it has acted as a joint bookrunner for the offering
ValU has a current post-money valuation $235m
DEWA said in a statement that the selling commissions would amount to Dhs213.7m
FAB had offered to buy a majority stake in EFG-Hermes in February
EFG Hermes has advised on other landmark listings such as ACWA Power’s offering on Tadawul and ADNOC Drilling’s milestone IPO on ADX
Altassan was the head of investment banking for Bank of America in Saudi Arabia
The IPO is the first listing of a cosmeceutical company on the Egyptian Exchange
In Egypt, we closed three accelerated equity offerings, out of which one was the first dual listing of a London listed company on EGX
IDC, a radiology and pathology diagnostics service provider in Pakistan, provides imaging and lab services across a national network of over 80 branches in 30 cities
The listing is one of the largest offerings in the kingdom since Saudi Aramco’s IPO in 2019
Vortex Energy IV will target all energy transition verticals
The transaction will be structured as a capital increase that will raise the paid-in capital of the bank to EGP5bn
Egypt’s biggest investment bank, EFG Hermes and Qatar’s QInvest had reached an agreement in May 2012.
The Egyptian investment bank posted a net profit of $4.4 million as revenues from its brokerage operations declined.