Latest news with #AliKhalpey
Khaleej Times
27-02-2025
- Business
- Khaleej Times
EFG Hermes successfully completes $2.84 billion marketed offering of Adnoc Gas shares
EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (Mena), has announced that its investment banking division has successfully completed a marketed offering of Adnoc Gas shares on behalf of Abu Dhabi National Oil Company (Adnoc). The transaction, which involved the sale of approximately 3.1 billion shares representing a 4 per cent stake in Adnoc Gas and valued at $2.84 billion, marks the first-ever marketed offering in the UAE and the largest placement on the ADX to date. EFG Hermes acted as joint global coordinator and joint bookrunner for the offering, facilitating Adnoc's strategic move to enhance Adnoc Gas' liquidity and free float. The transaction saw exceptional demand from institutional investors across the GCC and internationally. Ali Khalpey, Head of Equity Capital Markets at EFG Hermes, said: 'We are delighted to have played a pivotal role in this significant offering. This successful transaction underscores the robust demand for Adnoc Gas shares and highlights the continued investor confidence in the company's track record and growth trajectory. This marks our ninth ECM transaction for an Adnoc-related company, reaffirming our strong and trusted partnership with Adnoc.' He added, 'Our expertise in managing large-scale equity offerings allows us to support clients in achieving their strategic objectives while optimizing investor participation. This deal further cements EFG Hermes' leadership in regional capital markets and its ability to execute landmark transactions across Mena.' This transaction marks EFG Hermes' latest milestone in the GCC equity capital markets (ECM), building on the momentum of being ranked first in ECM in 2024 by the London Stock Exchange Group (LSEG). This deal also follows the firm's role in major secondary offerings in 2024, including the landmark Aramco Follow-on Offering (FMO) and two Accelerated Bookbuild Offerings (ABB) on Adnoc Drilling, showcasing the firm's expertise in rapid and efficient execution.
Zawya
26-02-2025
- Business
- Zawya
EFG Hermes leads $2.8bln marketed offering of ADNOC Gas
Cairo: EFG Hermes, an EFG Holding Company, has completed a $2.84 billion marketed offering of ADNOC Gas shares on behalf of Abu Dhabi National Oil Company (ADNOC). The transaction covered the sale of approximately 3.10 billion shares, representing a 4% stake in ADNOC Gas, according to a press release. This marks the first-ever marketed offering in the UAE and the largest placement on the ADX to date. EFG Hermes acted as joint global coordinator and bookrunner for the offering, facilitating ADNOC's strategic move to enhance ADNOC Gas' liquidity and free float. Ali Khalpey, Head of Equity Capital Markets at EFG Hermes, said: 'This marks our ninth ECM transaction for an ADNOC-related company, reaffirming our strong and trusted partnership with ADNOC.' He added: 'Our expertise in managing large-scale equity offerings allows us to support clients in achieving their strategic objectives while optimising investor participation.' This transaction marks EFG Hermes' latest milestone in the GCC equity capital markets (ECM), after securing the first place in ECM in 2024 by the London Stock Exchange Group (LSEG).
Zawya
25-02-2025
- Business
- Zawya
EFG Hermes successfully completes USD 2.84bln marketed offering of ADNOC Gas shares on behalf of ADNOC
Abu Dhabi: EFG Hermes, an EFG Holding Company and the leading investment bank in the Middle East and North Africa (MENA), announced today that its investment banking division has successfully completed a marketed offering of ADNOC Gas shares on behalf of Abu Dhabi National Oil Company (ADNOC). The transaction, which involved the sale of approximately 3.1 billion shares representing a 4% stake in ADNOC Gas and valued at USD 2.84 billion, marks the first-ever marketed offering in the UAE and the largest placement on the ADX to date. EFG Hermes acted as Joint Global Coordinator and Joint Bookrunner for the offering, facilitating ADNOC's strategic move to enhance ADNOC Gas' liquidity and free float. The transaction saw exceptional demand from institutional investors across the GCC and internationally. Ali Khalpey, Head of Equity Capital Markets at EFG Hermes, said: 'We are delighted to have played a pivotal role in this significant offering. This successful transaction underscores the robust demand for ADNOC Gas shares and highlights the continued investor confidence in the company's track record and growth trajectory. This marks our ninth ECM transaction for an ADNOC-related company, reaffirming our strong and trusted partnership with ADNOC.' He added, 'Our expertise in managing large-scale equity offerings allows us to support clients in achieving their strategic objectives while optimizing investor participation. This deal further cements EFG Hermes' leadership in regional capital markets and its ability to execute landmark transactions across MENA.' This transaction marks EFG Hermes' latest milestone in the GCC equity capital markets (ECM), building on the momentum of being ranked 1st in ECM in 2024 by the London Stock Exchange Group (LSEG). This deal also follows the firm's role in major secondary offerings in 2024, including the landmark Aramco Follow-on Offering (FMO) and two Accelerated Bookbuild Offerings (ABB) on ADNOC Drilling, showcasing the firm's expertise in rapid and efficient execution. About EFG Holding EFG Holding (EGX: – LSE: EFGD) is a financial institution that boasts a remarkable 40-year legacy of success in seven countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) — the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes. EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a microfinance player, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, PayTabs Egypt, a digital payment platform, Bedaya for mortgage finance, Kaf for insurance, Fatura, a technology-backed B2B marketplace and EFG Finance SMEs which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt. Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Bahrain | Kenya | Nigeria | Learn more about us at For further information, please contact: May El Gammal Group Chief Marketing & Communications Officer of EFG Holding melgammal@ Omar Salama Senior Communications Manager of EFG Holding osalama@ The EFG Holding Public Relations Team PublicRelations@
Zawya
27-01-2025
- Business
- Zawya
Middle East gears up for another strong year of diversification: IFR
Middle Eastern equity capital markets have been quick to reopen ahead of what is expected to be another busy year across the region. Last week saw the first Tadawul listing launch, continuing 2024's theme of growth-focused stocks in the form of online brokerage platform Derayah Financial while the emerging Omani market saw an early launch with Asyad Shipping. As in previous years, Saudi Arabia is expected to contribute the largest deal count, with bankers expecting themes around consumer, healthcare and tech to continue to be important. One regional banker said they were on four to five Tadawul deals in H1 and three or four UAE deals across the whole year while a banker at a global firm predicted up to 10 Saudi deals. The regional banker also said they had visibility on a second Omani deal though this was unlikely before Q4. Like Asyad, the second deal will be away from state oil firm OQ whose spin-offs have dominated recent deal flow but still within the government portfolio. A banker focused on Saudi Arabia said they expect two or three deals away from them to launch on Tadawul before Ramadan begins on February 28 while after Eid al-Fitr at the end of March they would bring two, including a retail-focused business awaiting CMA approval. CMA approval has already been given for Arabian Company for Agriculture and Industrial Investment, United Carton Industries and Umm Al Qura for Development and Construction Company which will need to launch in the first half. As in 2024, healthcare is expected to continue to be a hot sector with the Saudi banker's pipeline for H2 including a clinic operator with exposure to elective procedures such as cosmetic surgery and dentistry, which are experiencing strong demand. In keeping with last year, most deals are expected to be US$300m–$500m-equivalent. 'Saudi Arabia remains the most constructive market,' said Ali Khalpey, head of ECM at EFG Hermes. 'There is strong momentum around the private sector, which continues to grow. Liquidity remains robust and a number [of deals] have done really well in the last year.' Towards the end of 2024 some issuers also experimented with primary legs as part of their listings, thus far a relatively uncommon feature in Saudi Arabia. This was employed on online beauty company Nice One, which became Tadawul's first tech unicorn, and hospital operator Almoosa Health. They received strong traction from investors and remain up more than 70% and 21% on issue price, respectively. 'The Saudi market is quite mature and people are able to see a growth profile and back it,' said Khalpey. 'Healthcare is an area of focus as is education and housing. People are relocating to Saudi Arabia and there is significant demand for all three sectors.' An early Ramadan means the first crop of IPOs have a relatively tight window and will likely need to launch by around mid-February, though bankers said investors are increasingly comfortable with operating throughout the first half of the holy month. Even so, activity will be brisker in the second quarter. UAE remains robust In common with Saudi Arabia, the UAE saw a growing private sector and growth-slanted pipeline in 2024, however these deals showed more mixed performance with many trading down on debut. An emerging market banker said sentiment still remains robust but predicted investors would need to show more restraint and not assume that private sector deals would behave in the same way as government-backed offers. The banker also pointed to a recovery in some private sector stocks over time such as Spinneys, which priced at Dh1.53 in May and are now at Dh1.70 after trading either side of issue through the year. 'The UAE will be more of a mix of government and private sector and investors will be a lot more discerning,' said Khalpey. 'There are a number of high-quality assets which are government-backed.' A number of notable state-backed names are highly anticipated, including Abu Dhabi carrier Etihad Airways and commercial and residential REITs from Dubai Holding. Etihad remains likely to launch in Q1, depending on regulatory approval. Early-look work is ongoing and a banker involved said feedback is very positive. Citigroup, First Abu Dhabi Bank and HSBC are running the deal, with Rothschild advising. Dubai Holding's REITs are said to have been pushed back from an initial expectation of early H1.
