EFG Hermes Investment Banking Concludes Advisory on B.TECH’s EGP300 Million Strategic Partnership with DPI, a Leading African Private Equity Firm
EFG Hermes Announces the Closing of Vortex’s EUR 550 Million Pan-European Deal; Doubling its Private Equity AUMs to USD 1.1 Billion and Bringing Total Group AUMs to USD 3.5 Billion
Ordinary shares of Cleopatra Hospital Company S.A.E. (stock code: CLHO.CA) will begin trading today on the Egyptian Exchange at 10:00am CLT, opening at EGP 9.00 per share. Trading begins after a book-building process that saw selling shareholder Care Healthcare Limited offer 34 million shares to international institutional investors and a further 6 million shares to Egyptian retail investors (together, the “Combined Offer”). The institutional offering was 6.73x oversubscribed and the Egyptian retail offering 28.6x oversubscribed.
62% surge in Investment Bank revenues to EGP 397 million comes amid strong performance from all lines of business; results of recently acquired microfinance player Tanmeyah will be consolidated beginning in 2Q2016.
The transaction is part of Vortex’s drive to own more than 1 GW of net installed capacity within the coming two years, and nearly doubles EFG Hermes’ private equity AUMs to USD 1.1 billion
Moustafa El Chiati, an Investment Banking veteran with EFG Hermes, takes up his duties as chief executive officer at EFG Hermes’ UAE Operations effective 1 April 2016. El Chiati had successfully led to conclusion the recent IPO of one of the region’s leading cheese manufacturers, Domty, on the Egyptian Stock Exchange.
Group delivered solid operational performance despite challenging regional conditions, maintaining its lead as the region’s largest securities brokerage, closing the year atop the Thomson Reuters MENA Equity Capital Markets League Table, launching new asset management funds, and growing its greenfield leasing franchise.
Ordinary shares of Arabian Food Industries Company Domty S.A.E. (DOMT.CA on the Egyptian Exchange) will begin trading today at 10:00am CLT on the EGX, opening at EGP 9.20 per share.
Top global institutional investors and leading MENA companies see best three-year returns in the UAE and Egypt; are tipping healthcare and consumer staple plays for 2016; and think corporate earnings will fall 10-20% this year as growth slows amid slumping oil prices
Defensive plays, dividend payers, and companies with strong cash flows, robust balance sheets and outstanding management teams offer opportunity amid volatile global markets as the Middle East and North Africa looks to a future less-dependent on oil
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