EFG Holding Lines Up $10 Billion IPO Pipeline Across Egypt & Gulf Markets
Leading MENA financial services company EFG Holding (operating significantly through its investment banking arm EFG Hermes) is preparing a substantial pipeline of Initial Public Offerings (IPOs) across Egypt and the Gulf Cooperation Council (GCC) region, potentially totaling up to USD $10 billion. This signals strong anticipated activity in regional equity capital markets, particularly in Saudi Arabia.
Major IPO Pipeline Across MENA
According to statements from EFG Hermes executives like Mostafa Gad (Global Head of Investment Banking), the group is actively working on:
Egypt: Two government offerings planned for the Egyptian Stock Exchange (EGX), spanning the service and industrial sectors.
Gulf: Seven IPOs, with a significant concentration in Saudi Arabia (five listings planned for Tadawul) and expectations for deals in Kuwait as well.
EFG Hermes has a strong track record, having led numerous high-profile IPOs and secondary offerings across Tadawul, ADX, DFM, and Boursa Kuwait in previous years.
Balancing IPOs and M&A Activity
Alongside the robust IPO pipeline, EFG Holding is also managing approximately 10 merger and acquisition (M&A) deals valued collectively between USD $6 to $8 billion. Notably, Egypt accounts for a significant portion (40-50%) of this M&A activity, highlighting continued deal flow in that market despite broader economic challenges.
Market Conditions & External Factors
Executives noted that the timing for launching these IPOs remains contingent on prevailing market conditions and investor appetite. Recent global economic uncertainty, including the potential impact of US trade tariffs, are factors being monitored, although no offerings had been postponed or cancelled at the time of the reports. The general expectation, however, points towards high activity in regional offerings this year, potentially exceeding last year's levels, with a particular emphasis on the Saudi market.
About EFG Holding / EFG Hermes
EFG Holding S.A.E. is a major Egyptian financial services company with a significant presence across the Middle East, North Africa, Sub-Saharan Africa, and South Asia. Its investment banking arm, EFG Hermes, is a leading player in the MENA region, specializing in securities brokerage, asset management, investment banking (including IPO advisory and underwriting), private equity, and research. Headquartered in Cairo, it operates offices in key markets like the UAE (Dubai) and Saudi Arabia (Riyadh). The CEO is often cited as Karim Awad.
Looking Ahead
EFG Holding's extensive IPO and M&A pipeline underscores its central role in MENA's capital markets and reflects anticipated continued activity, especially within the GCC and Saudi Arabia. The successful execution of these deals will depend on stable market conditions but highlights the ongoing opportunities for both private sector companies and government entities seeking to raise capital in the region.
Source: Waya