Egypt detects 818 new coronavirus infections; 42 deaths on Monday    Tatweer Misr signs EGP 3.2bn worth investment contracts for Bloomfields educational zone    Egypt prepares for launching its 1st mobile notary public    Water wars    The endangered River Nile    Egypt highlights anti-climate change efforts during Spring Meetings    GERD: All options open    Don't miss AUC's Lions of Cairo ensemble concert    Egypt's external debt increases to $129.2bn in 2020: CBE    Prominent American rapper and actor DMX dies at 50    Tehran vows revenge    Al-Sisi, Lavrov address bilateral cooperation, Ethiopia's disputed dam    Narrative Summit launches 1st episode of Reshaping Norms 2021    Russia offers technical assistance in Nile dam negotiation: Lavrov    2021 Copenhagen Documentary Festival to launch Big Digital Live Platform    Paris to launch first int'l modern and contemporary art fair dedicated to Middle East, North Africa    Syrian air force may have dropped chlorine bomb on town in rebel area in 2018: Chemical arms watchdog    Egyptian artists honoured at Cairo Opera House for taking part in Golden Parade    Lebanese minister expands claim in maritime area dispute with Israel    Abu Dhabi's ADNOC, Dutch-listed OCI weigh IPO of fertiliser joint venture: sources    Karnak Int'l hospital in Luxor to turn into key medical tourism destination in Egypt: Health minister    IMF increases its expectations for MENA economy to 4% in 2021    Russian FM says Egypt is main partner in Middle East, Africa    Macro Group delays Egypt IPO plans    Hotels in Egypt open at half capacity, have 40-45% occupancy rates in Q1    Bayern Munich, Liverpool needing comebacks to reach CL semifinals    Borussia Dortmund's Sancho back in training before City clash    Australia abandons COVID-19 vaccination targets after new advice on AstraZeneca shots    Cleopatra Hospitals, Nahda University sign EGP 7.4m MoU for joint scholarship programme    Egyptian-African Relations Committee discusses strengthening Egypt's stance in Africa    Egypt will not allow internal water crisis due to Ethiopian dam: Water Minister    Egypt's Public Prosecution announces results of investigations into Sohag train crash    Egypt's Trezeguet injury worries Aston Villa Coach Dean Smith    Egypt's hotels, open at half capacity, had 40%-45% occupancy rate in Q1 2021: official    Egypt sees an uptick in new coronavirus infections registers 801 new cases on Saturday    Bibliotheca Alexandrina launches hieroglyphics programme for primary school teachers    Ethiopia invites Egypt, Sudan to nominate operators in data exchange on GERD's 2nd filling    PMI moves towards a smoke-free transformation, takes part in a webinar on e-cigarettes    Zamalek's Shikabala nominated for best goal in CAF Champions League    Egypt's national youth fencing team achieves world glory    Karate Federation celebrates success of Egypt Cup    Egypt's President warns of grave consequences of water crises in Africa    Allianz Egypt partners with IGNITE to equip brand ambassadors for 2021 Olympics    Hassan Allam consortium wins contract to manage, operate Grand Egyptian Museum    Enhanced Labs signs Mr. Olympia 2020 "Big Ramy" And His Trainer Dennis James    King Tutankhamun funerary mask is must-see tourist icon: The Telegraph    Seasoned Egyptian screenwriter Wahid Hamed dies at 76    Egypt, Ethiopia, Sudan to resume Nile dam talks today    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

EFG Hermes KSA completes advisory on Alkhorayef Water & Power Technologies' $ 144 mn IPO
Published in Amwal Al Ghad on 01 - 03 - 2021

EFG Hermes, the leading financial services corporation in Frontier Emerging Markets (FEM), announced today that its Investment Banking team has successfully completed advisory on Alkhorayef Water & Power Technologies' (AWPT) SAR 540 million ($144 million)IPO on Tadawul.
EFG Hermes KSAacted as bookrunner and underwriter on the IPO.
AWPT began trading today under the Bloomberg stock symbol "2081". Alkhorayef Group Company sold 7.5 million sharesin AWPT to investorsin the transaction, representing 30% of AWPT's share capital, at SAR [72.00] per share.
AWPT is a subsidiary of the Alkhorayef Group Company, which first made a name for itself in Saudi Arabia as an agricultural equipment providerin 1957. Alkhorayef Group Company has since diversified its activities, expanding into machinery systems, oil, and contracting, in addition to printing and paper under numerous subsidiaries.
Established in 1991, AWPT is the leading operations and maintenance provider for water, wastewater, and integrated water services in Saudi Arabia, with 54 projects across the Kingdom's provinces.
Co-Head of Investment Banking at EFG Hermes, Mohamed Fahmi, commented,"The successful conclusion of the AlkhorayefWater & Power Technologies IPO is part and parcel of our strategy to leverage our market-leading book-building and advisory services to gain further foothold in Saudi Arabia.
Following the Kingdom's upgrade to emerging market status on both the FTSE and MSCI indices, we believe Saudi Arabia has the potential to become a global trading hub in the years to come, and we are perfectly poised to capture on that growth today, with numerous deals already in the pipeline for the year."
The IPO bookends a series of landmark equity transactions on which EFG Hermes KSA has advised onin Saudi Arabia, including the Aramco IPO in 2019 and Sulaiman Al Habib Group IPO in 2020.
The division currently holds a 9% market share of overall deal executions according to 9M2020 rankings from Refinitiv's ECM MENA League Tables, and has consistently acquired top ranksamong all MENA ECM advisers for the past four years.

Clic here to read the story from its source.