Cairo – Mubasher: EFG Hermes has implemented 12 transactions since the beginning of 2018, compared to 16 deals during the full-year 2017, the group's co-head of Investment Banking said on Tuesday.
The Egyptian investment bank is currently working on closing between 2 and 3 merger and acquisition (M&A) transactions, Moustafa Gad told local newspaper AlBorsa.
EFG Hermes is lead arranging a large number of initial public offerings (IPOs), including two share sales on the Egyptian Exchange (EGX), in addition to three offerings on the Saudi Stock Exchange (Tadawul), Boursa Kuwait and another offering on one of the emerging capital markets (ECM), he added.
Moreover, the Cairo-based firm is working on executing debt market bids with a total amount of EGP 1.5 billion in different economic sectors, Gad noted.
The holding group will manage the offerings of Cairo Investment and Real Estate Development (CIRA), which is already listed on the Egyptian bourse, and Hassan Allam Holding, which will take place during the fourth quarter of 2018, the official added.
In the same vein, EFG Hermes will also lead arrange two IPOs in both the Saudi and Kuwaiti markets, as part of the group’s geographic diversification strategy.
The Egyptian investment bank had succeeded in diversifying its financial services through adding debt capital market’s (DCM) activities and merchant banking activities, the most stable activities in ECM.