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FinancialNews


  • 10-10-18

    Egypt's Hermes seeks to win IPO mandates in Saudi Arabia

    (MENAFN) The Egyptian EFG Hermes is seeking to tap into the Saudi Arabian market as it expects to claim initial public offering (IPO) mandates in the Kingdom.

    Reuters reported the investment bank to have voiced its wishes to secure an agreement for the purchase of a Nigerian broker by November.

    The bank unveiled previously a decision to increase its personnel to realize its goal to win mandates in Saudi Arabia.

    EFG Hermes' co-head of investment banking Mohamed Fahmi stated: "EFG Hermes was looking to win mandates to advise on private sector IPOs and mid-market mergers and acquisitions in Saudi Arabia."

    Fahmi added "many potential candidates for IPOs in the Kingdom are looking at dual listings and at issuing global depository receipts (GDRs)."

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