Latest from El Fagr
El Fagr
a day ago
- Business
- El Fagr
EFG Hermes Successfully Completes Advisory on USD 500 Million IPO of Specialized Medical Company on the Saudi Exchange
EFG Hermes، an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA)، announced today that its investment banking division successfully completed its advisory on the USD 500 million initial public offering (IPO) of Specialized Medical Company (SMC)، one of the leading healthcare providers in the Kingdom of Saudi Arabia، on the Main Market of the Saudi Exchange (Tadawul). This marks EFG Hermes' third IPO in the healthcare space in the past 12 months، further reinforcing its position as a trusted advisor across the region's most dynamic sectors. The company began trading today under the ticker 4019. Specialized Medical Company offered a total of 30% of its total issued share capital through the sale of 75 million ordinary shares at SAR 25 per share، implying a market capitalization of SAR 6،250 million (USD 1،667 million). The orders recorded during the institutional book-building exceeded SAR 121.3 billion، representing a coverage of 64.7x. Karim Meleka، Co-Head of Investment Banking at EFG Hermes، said، 'We are proud to have advised on the IPO of Specialized Medical Company. Despite heightened geopolitical tensions in the region، the offering attracted overwhelming interest from a diverse base of local، regional، and international investors — a clear vote of confidence not only in SMC's fundamentals but also in the resilience of Saudi Arabia's capital markets and the strength of its macroeconomic outlook.' SMC was founded in 1999 and is one of Riyadh's leading multi-specialty private healthcare providers، with a 25-year track record of delivering high-quality، patient-centric medical care. The Company operates two state-of-the-art hospitals in Riyadh with a combined capacity of 578 inpatient beds and 266 outpatient clinics. SMC is strategically expanding into Northern Riyadh، where rapid urban development is creating strong demand for healthcare services. With three additional hospitals، it is expected to capture over 25% of private hospital capacity in the area، establishing a leading position in an underpenetrated region with limited existing healthcare infrastructure – one that is set to become Riyadh's new urban hub. Once operational، the new facilities are expected to more than double the Company's current capacity to approximately 1،276 beds and 770 outpatient clinics. EFG Hermes acted as a Joint Financial Advisor، Joint Bookrunner، and Joint Underwriter on the transaction. EFG Hermes has advised on six IPOs across the region year to date، including landmark transactions on Tadawul، the Abu Dhabi Securities Exchange، the Muscat Stock Exchange، and the Egyptian Exchange، underscoring its regional leadership in equity capital markets.
El Fagr
3 days ago
- Business
- El Fagr
EFG Hermes Successfully Concludes Advisory on Valu's Landmark EGX Listing Innovative in-kind distribution and Amazon investment mark a new chapter in Egypt's capital markets.
EFG Hermes، an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA)، announced today that its investment banking team has successfully concluded advisory on the listing of Valu and its commencement of trading on the Egyptian Exchange (EGX)، under the ticker valu، yesterday. Valu's listing and trading on the EGX was executed through an innovative in-kind dividend distribution، where EFG Holding distributed 20.488% of Valu's share capital to its shareholders، as of the record date، June 12th، 2025، enabling EFG Holding shareholders to directly participate in the growth of one of Egypt's fastest growing fintech platforms. On its debut، Amazon acquired shares representing a 3.95% direct shareholding in Valu for a price per share of EGP 6.041 and the share price witnessed a remarkably positive performance closing at EGP7.4 per share. EFG Finance Holding (EFG Finance)، a subsidiary of EFG Holding، will continue to own 67% of Valu post trading and sale of shares to Amazon. Maged El Ayouti، Co-Head of Investment Banking at EFG Hermes، remarked، 'Valu's successful debut on the Egyptian Exchange coupled with an investment by global technology heavyweight، Amazon، in Valu is a proud and defining milestone for EFG Hermes. As one of the most recognized and trusted household fintech brands in Egypt، Valu has built a loyal customer base and a resilient، scalable platform for sustainable growth. We are confident in Valu's ability to continue delivering exceptional value to customers and shareholders alike and in Valu having a successful journey as a leading listed company on the Egyptian Exchange. We believe this landmark transaction shall serve as a positive catalyst for the revival of activity on the stock exchange.' Valu's successful listing and debut on the EGX marks not only a milestone for Egypt's fintech sector but also a testament to EFG Hermes' leadership in driving innovation and unlocking value in the region's capital markets. As the investment bank behind this landmark transaction، EFG Hermes continues to play a pivotal role in bringing dynamic، high-growth companies like Valu to the public market. Valu's scalable، customer-centric business model and focus on financial inclusion underscore EFG Hermes' commitment to advancing transformative ventures that shape the future of Egypt's financial ecosystem. EFG Hermes acted as the sole financial advisor for EFG Holding and Valu in the listing and the transaction with Amazon.
El Fagr
19-06-2025
- Business
- El Fagr
Bank NXT Partners with UiPath and BMB Egypt to Accelerate Intelligent Automation and Bolster its Digital Transformation Strategy
Bank NXT، a leading provider of integrated retail and corporate banking solutions in Egypt has announced the signing of a cooperation protocol with UiPath، a global leader in intelligent automation solutions، in a strategic step toward digital transformation. The partnership، executed in collaboration with BMB Egypt، a global solutions provider، innovator and advisor working with top rated technology partners to empower businesses and organizations، through the finest quality of custom-made IT solutions، aims to implement UiPath's platform to accelerate automation، enhance operational efficiency، and elevate the quality of banking services. This collaboration reflects Bank NXT's commitment to achieving the highest levels of institutional performance، improving customer experience، and supporting its broader digital transformation and sustainable growth strategy. Hesham Daabes، Senior Group Head for Support at Bank NXT، expressed his pleasure in launching the UiPath platform in partnership with BMB Egypt to accelerate the digital transformation of banking services. He highlighted the fruitful outcomes of adopting innovative solutions through this collaboration، notably the enhancement of institutional performance in managing internal operations with efficiency، accuracy، and speed—aligning with the bank's vision for agile development and its commitment to delivering an exceptional customer experience. Daabes added that this agreement has opened new horizons for advanced uses of the world-leading automation platform and maximized the value of this partnership by leveraging global models to advance Egypt's banking sector. It also contributes to improving service quality، paving the way for continued innovation and growth in the future. Ashraf El Zarka، Vice President and Managing Director، UiPath Middle East and Africa، said: 'We're excited to witness this landmark deployment of intelligent automation at Bank NXT—one of the fastest adoptions we've seen in the region. With unwavering executive support، led by the CEO and leadership team، and a highly dedicated staff، the foundation for long-term innovation is firmly in place. Phase one focuses on transforming back-office operations and enhancing customer interactions، laying the groundwork for flexible، customer-driven banking services. The future is bright، especially with agentic automation on the horizon.' Mohamed Mossad، Director of Intelligent Automation and Data Analytics at BMB Egypt، added: 'As a strategic partner in intelligent automation and artificial intelligence، we're proud to support Bank NXT in this pivotal project. From day one، the bank has demonstrated a forward-thinking approach، enabling seamless technology integration، faster product enablement، and real-time value delivery to internal teams. We're confident that intelligent automation will drive transformation across Egypt's banking sector، ushering in an era of speed، innovation، and sustainable growth. We remain committed to scaling automation، adopting AI technologies، and helping our partners lead transformation، not just keep pace with it.' Bank NXT is executing an ambitious roadmap to automate several key operations in the coming period. This initiative is designed to boost institutional performance، deliver genuine added value to customers، and reinforce the bank's leadership in banking innovation across Egypt.
El Fagr
27-05-2025
- Business
- El Fagr
Valu Announces Intention to List on the Egyptian Exchange
U Consumer Finance S.A.E. ('Valu')، the leading universal financial technology powerhouse in Egypt، announced today its intention to proceed with the trading of its shares on the Egyptian Exchange (the 'EGX')، following the completion of an in-kind dividend distribution* by EFG Holding S.A.E. ('EFG Holding') (the 'Dividend Distribution'). Valu was listed on the EGX on 21 May 2025 (the 'Listing،' and together with the Dividend Distribution، the 'Transaction'). Valu's shares will be admitted to trading on the EGX following registration with the Egyptian Financial Regulatory Authority (the 'FRA')، the completion of the Dividend Distribution and the ratification of the trading disclosure report by the FRA**. The Dividend Distribution was approved by the Ordinary General Assembly meeting of the shareholders of EFG Holding on 24 May 2025 (the 'OGM'). The OGM approved the utilization of EGP 335،322،346 out of the distributable retained earnings of EFG Holding، which figure is based on the financial statements of EFG Holding for the financial year ending on 31 December 2024، for the purposes of an in-kind dividend distribution (in lieu of a cash dividend distribution) to the shareholders of EFG Holding، in the form of shares in the share capital of Valu، which shares represent 20.488% of the share capital of Valu. The Dividend Distribution is based on Valu's book value according to the consolidated financial statements for the financial year ending on 31 December 2024. The ratio of the number of Valu shares that will be allocated to the shareholders of EFG Holding is 1 Valu share per 3.3273 EFG Holding shares (with fractional shares allocated to minority shareholders). As announced earlier today، EFG Holding has determined that the record date is set on 12 June 2025، for the owners of shares of EFG Holding and the purchasers of shares of EFG Holding، as of the end of the trading session held on the Thursday 12 June 2025، which accordingly will become direct shareholders in Valu، after completing the necessary procedures. The commencement of trading on the Valu shares on the EGX is expected to take place during the week commencing on 22 June 2025، subject to receipt of the relevant regulatory approvals. Valu and EFG Holding engaged EFG Hermes Promoting and Underwriting S.A.E. to act as sole financial advisor in connection with the Transaction، and Zulficar & Partners to act as legal counsel. EFG Holding also engaged Gibson، Dunn & Crutcher LLP to act as legal counsel to EFG Holding in connection with the international aspects of the Transaction. Commenting on the Listing، Walid Hassouna، Valu's Chief Executive Officer، said: "This listing marks a significant milestone in Valu's journey، and is a testament to the disruptive and positive impact we have made in the market as one of the leading fintech players in the MENA region and Egypt's leading fintech platform. With the full backing of our parent EFG Holding، we're unlocking new value for our customers and shareholders، and accelerating our mission to democratize access to finance in the region.' *An in-kind dividend is a non-cash payout of assets to shareholders، often used for distributing securities، property، or other assets instead of cash. **Please note that the trading disclosure report has not been ratified by the FRA yet.
El Fagr
26-05-2025
- Business
- El Fagr
EFG Hermes Concludes Advisory on EFG Corp-Solutions' EGP 2.65 Billion Issuance، Egypt's Largest-Ever Corporate Bond Issuance
EFG Hermes، an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA)، announced today the successful conclusion of Egypt's largest corporate bond issuance to date، a bond issuance valued at EGP 2.65 billion for EFG Corp-Solutions، a subsidiary of EFG Finance and one of Egypt's leading leasing and factoring companies. This transaction marks as the fourth bond issuance for EFG Corp-Solutions. The bond was issued with a credit rating of A- by Middle East Ratings and Investor Services (MERIS)، with a 13-month tenor. Maged El Ayouti، Co-Head of Investment Banking at EFG Hermes ، commented on the issuance، saying، 'We are proud to have successfully advised on Egypt's largest-ever corporate bond issuance. This milestone reflects our commitment to delivering innovative financial solutions and supporting the growth of our clients. By leveraging our extensive network and expertise، we were able to fully cover the issuance through a diverse base of non-bank institutional investors—an achievement that reflects strong market confidence and the strength of the offering، with the issuance being completely covered from non-bank institutional investors. This broad appeal underscores the robust market position of EFG Corp-Solutions and highlights the synergies within EFG Holding.' Talal El Ayat، CEO of EFG Corp-Solutions ، shares his enthusiasm، saying، 'This issuance marks a significant achievement for EFG Corp-Solutions and underscores our position as a leader in the leasing and factoring industry. The success of this bond issuance is a testament to the market's trust in our business model and our potential for sustained growth. We are excited about the opportunities this bond will create for our company and our stakeholders، and we look forward to leveraging this momentum to further expand our footprint and deliver exceptional value.' This transaction comes as the latest in a series of debt issuances advised by EFG Hermes in the region. Most recently، EFG Hermes advised on Bedaya's sixth securitization issuance worth EGP 1.64 billion. It also advised Valu on its 14th securitized bond issuance، worth EGP 463.3 million، as well as the fifth securitization for Bedaya، valued at EGP 1.78 billion. The firm also concluded advisory on Sylndr's EGP 300 million working capital facility، in addition to a short-term note valued at EGP 433 million for EFG Corp-Solutions. EFG Hermes acted as the sole financial advisor، transaction manager، book-runner، underwriter، and arranger for the issuance. Commercial International Bank (CIB) acted as the placement and subscription bank. Legal advisory services were provided by Dreny & Partners، while KPMG was appointed as the auditor for the issuance.
