EFG Hermes released its earnings results for the first nine months of 2008, its first since the Middle East began feeling the effect of the credit and liquidity crunch in Western markets. (Click here to download the latest earnings release)
EFG Hermes has today confirmed its commitment to providing its clients with quality research products with the launch of the EFG Hermes Focus List. This innovative research tool lists the investment bank’s top ten stock picks from across the Middle East and North Africa region.
EFG Hermes Securities Brokerage now offers its foreign institutional investors access to the largest market in the Middle East & North Africa (MENA) region, Saudi Arabia, through its recently launched Abwab product.
The majority of the 3,000 plus residents of Ezzbet Yacoub, located in the Upper Egyptian governorate of Beni Suef, are landless peasants who live below the poverty level. Set in dusty squalor, they live in 370 dilapidated houses that lack basic amenities such as running water, sanitary facilities and electricity. Like many other impoverished rural communities in Egypt, their plight goes largely unnoticed.
Following the recent addition to its leadership team and underlining its strategy to expand its footprint across the MENA region, the private equity arm of leading regional investment bank EFG Hermes has today announced its investment of US$65 million in Gulf Housing Solutions Limited (GHS). GHS acquires, develops, sub-leases and manages staff accommodation facilities for the construction industry and the hospitality sector in the UAE.
Landmark US$ 70 million deal for 49% of Egypt’s largest advertising, media and marketing communications firm comes after a highly competitive bidding process by the world’s two largest communication groups
EFG Hermes, today announced that its Middle East and North Africa (MENA) Opportunities Fund has raised USD 1 billion in assets under management (AuM). Since its inception in September 2007, the Fund has delivered a blended return of 31% (as of July 31st ).
EFG Hermes has today agreed to subscribe for 9.97% of the share capital of Panmure Gordon through the placing of 6,732,675 million new shares for cash by Panmure Gordon to EFG Hermes at a price of 47p per share. Following the completion of the capital increase EFG Hermes Holding will hold an interest of 9.06% in the voting rights in Panmure Gordon.
EFG Hermes announced today that it has entered the highly promising Kuwaiti market through a strategic partnership with Kuwait Invest Holding Company whereby it has acquired an equity interest in Offset Holding KSC for approximately KWD 33.42 million (US$ 126 million).
EFG Hermes reported record revenues and net income for the first half of 2008. (Click here for the complete Earnings Release)
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