EFG Hermes managed 4 IPOs on Tadawul in 2023: Co-Head of Investment Banking

EFG Hermes managed 4 IPOs on Tadawul in 2023: Co-Head of Investment Banking

EFG Hermes has managed several successful initial public offerings (IPOs) in the Gulf markets, particularly in Saudi Arabia, the UAE, Kuwait, and Oman. These markets have regained momentum in IPOs and witnessed various mergers and acquisitions deals after experiencing a decline at the beginning of this year due to global economic changes that affected all markets. However, the Gulf markets have maintained their allure, and the largest offerings were implemented during the current year.

Saudi Market

Mohamed Fahmi, EFG Hermes’ Co-Head of Investment Banking, revealed that the company is managing about 4 multi-billion dollar IPOs in the Saudi Stock Exchange (Tadawul) during the current time.

In an interview with Daily News Egypt, Fahmi predicted the completion of several IPOs before the end of this year. These IPOs are distributed across various sectors and include public and private offerings.

He noted that the delay in IPOs on Tadawul is a respite for investors after the large number of offerings implemented by the market in the last period. He explained that the relative slowdown in offerings in Gulf markets, in general, is a correction process that allows for evaluation and review after the huge offerings that took place in the region.

According to Tadawul data, there were