This deal represents the Firm’s Investment Banking division’s solid ability to execute consecutive transactions despite challenging external conditions

Cairo, 18 August 2021

EFG Hermes, the leading financial services corporation in Frontier Emerging Markets (FEM), successfully concluded advisory on the follow-on sale of c. 73.9 million (c. 4.3%) shares of Fawry for Banking Technology and Electronic Payments SAE (FWRY.CA) on the Egyptian Stock Exchange (EGX), in a c. USD 80.0 million transaction. The Firm acted as sole financial advisor as well as joint bookrunner, on behalf of the selling shareholders; the Egyptian American Enterprise Fund; Link HoldCo BV (Helios); responsAbility; and Black Sparrow (MENA LTV).

“The successful sale of c. 4.3% of Fawry reaffirms our solid relationship with the company and its shareholders. Our partnership has started growing in strength ever since the conclusion of EFG Hermes’ advisory on the sale of Fawry to a consortium of investors in 2015, and continued to thrive with the Firm taking the company public in 2019, as well as a renowned post-IPO follow-on offering and rights-issue,” commented Co-Head of Investment Banking at EFG Hermes Mostafa Gad. “This deal highlights our investment banking team’s steadfast ability in executing transactions across ECM, DCM and M&A despite a challenging external environment.”

Since its establishment in 2008, Fawry has been committed to serving millions of consumers and businesses using diverse payment channels and an unrivaled infrastructure network of more than 230 thousand service points across 300 cities. Today it stands as the nation’s leading electronic payments gateway and Egyptians’ primary e-payment platform of choice.

EFG Hermes was ranked third on the ECM ranking league tables for the Middle East & North Africa for

the first half of 2021. This c. USD 80.0 million deal marks the Firm’s sixth ECM deal in 2021 following the rights-issue for Fawry; the dual-listing of Integrated Diagnostic Holdings (IDH); the international IPOs of Theeb Rent A Car and Alkhorayef Water and Power Technologies on the Saudi Stock Exchange (Tadawul); and the international IPO of Al Yah Satellite Communications Company (Yahsat) on the Abu Dhabi Securities Exchange (ADX). 

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About EFG Hermes

With a current footprint spanning thirteen countries across four continents, EFG Hermes started in Egypt and has grown over 35 years of success to become a leading financial services corporation with access to emerging and frontier markets. Drawing on our proven track-record and a team of more than 5,500 talented employees, we provide a wide spectrum of financial services that include investment banking, asset management, securities brokerage, research and private equity to the entire MENA region.

In 2015, EFG Hermes launched the NBFI Platform, EFG Hermes Finance, which overlooks activities in the non-banking finance field covering microfinance, leasing, factoring, consumer finance, mortgage and insurance. This falls in line with the Firm’s strategy to focus on two main pillars: product diversification and geographic expansion into non-MENA markets, which has seen the Firm establish a physical presence in Pakistan, Bangladesh, Vietnam, Kenya, Nigeria, the United Kingdom and the United States.

EFG Hermes Media

media@efg-hermes.com

May El Gammal

Group Head of Marketing & Communications

melgammal@efg-hermes.com

Note on Forward-Looking Statements

In this press release, EFG Hermes may make forward looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Hermes’ belief regarding future events, many of which, by their nature are inherently uncertain and are beyond management’s control and include among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.