EFG Hermes’ investment banking division, the leading investment banking franchise in Frontier Emerging Markets (FEM), announced today that it successfully concluded advisory to Sixth of October for Development and Investment Company (SODIC) in the sale of 85.5% of its EGX-listed shares through a mandatory tender offer (MTO) to a consortium comprising UAE real estate development company Aldar Properties and Abu Dhabi Developmental Holding Company (ADQ). c.305 mn shares were tendered to the consortium at EGP 20 per share. Transaction closing is subject to execution and settlement procedures on the Egyptian Stock Exchange.
EFG Hermes and Saudi Fransi Capital (“SFC”) have successfully acted as joint bookrunners and brokers to Growth Opportunities Company for Trading, completing the sale of its entire stake in Theeb Rent a Car, through an accelerated equity offering (the “Transaction”). The total number of shares offered and sold were 9,030,000 shares, representing 21% of Theeb Rent a Car’s outstanding shares. The stake was offered to a group of institutional investors, and was ultimately executed through 19 block trades at a price per share of SAR 53, corresponding to a Transaction value of SAR 478,590,000. Post the completion of the sale, Theeb’s freefloat shares as percentage of outstanding shares has increased to 63.45%, with the remaining 36.55% being held by other substantial shareholders.
EFG Hermes, the first universal bank in Egypt and the leading investment bank in Frontier Emerging Markets (FEM), announced today at RiseUp Summit 2021 the launch of an advanced version of its flagship “EFG Hermes One” trading platform. The new application will feature a wider range of brokerage services, a fully digitized on-boarding process, a digital payment gateway and more — all through the new and improved user interface.
valU, MENA’s leading buy-now pay-later (BNPL) fintech platform, and Marakez, one of Egypt’s leading mixed-use developers, announced today the launch of a strategic partnership that will see valU offer its BNPL services to Marakez’ Mall of Tanta. valU will offer mall visitors an exclusive offer that features a payment plan with 0% interest, 0 down-payment, and 0 purchase fees over 12 months for a week, available to valU clients at Mall of Tanta’s expansive range of over 60 retailers.
EFG Hermes, the leading financial services corporation in frontier emerging markets (FEM), kicked off its fourth Egypt Day Conference titled “Shaping the Investment Landscape” yesterday, with investors showing continued interest in Egypt’s mounting economic and investment prospects after meeting with the Cabinet’s Economic Group, led by the Prime Minister of Egypt Dr. Moustafa Madbouly.
Jumia, the leading e-commerce platform in Egypt, JumiaPay the fintech electronic payments platform, and valU the leading Buy-Now Pay-Later (BNPL) fintech platform in the Middle East and North Africa, have signed agreements to enable valU to become a payment solution via Jumia and JumiaPay.
EFG Hermes Holding informed shareholders today that it has completed its transformation into an Egyptian universal bank with a market-leading frontier emerging markets (FEM) investment banking platform. The news comes as the Firm has finalized its acquisition of a 51% stake in the Arab Investment Bank (aiBANK), marking a strategic entry into the fast-growing and solid Egyptian commercial banking sector. The transaction will see EFG Hermes Holding assume control of aiBANK, with TSFE Financial Services & Fintech Subfund, a subfund fully owned by the Sovereign Fund of Egypt, EFG Hermes Holding’s valued partner, acquiring a 25% stake.
EFG Hermes Holding, the leading financial services corporation in Frontier Emerging Markets (FEM), announced today its results for the first nine months of 2021, with revenues rising 8% over the same period last year to EGP 4 billion and its net profits jumping 26% Y-o-Y to reach EGP 1.1 billion.
The agreement capitalizes on valU’s pioneering efforts in helping its clients achieve their desired lifestyles through the provision of home improvement and finishing financing as well as Misr Italia’s commitment to providing clients with solutions that meet their needs
EFG Hermes, the leading financial services corporation in Frontier Emerging Markets (FEM), announced today that its Investment Banking division successfully completed advisory on Fertiglobe’s USD 795 million Initial Public Offering (IPO) on the Abu Dhabi Exchange (ADX) – one of the largest ever listings on the bourse and the first ever listing of a free zone company onshore in the UAE.
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