Eleqtisade News
  • Home
  • Economy
    • Economy of Egypt
  • Banks
  • Stock Exchange
  • Tech
  • Social responsibility
  • More
    • Real Estate
    • Industry and investment
    • Cars and transportation
    • Energy
    • Know your bank
    • Markets
    • Opinion writers
    • Tourism & Aviation
    • video
  • English
    • العربية
    • English
02/06/2025 - 10:17 pm
No Result
View All Result
  • Home
  • Economy
    • Economy of Egypt
  • Banks
  • Stock Exchange
  • Tech
  • Social responsibility
  • More
    • Real Estate
    • Industry and investment
    • Cars and transportation
    • Energy
    • Know your bank
    • Markets
    • Opinion writers
    • Tourism & Aviation
    • video
  • English
    • العربية
    • English
No Result
View All Result
Eleqtisade News
No Result
View All Result
  • Home
  • Economy
  • Banks
  • Stock Exchange
  • Tech
  • Social responsibility
  • More
  • English

EFG Hermes Concludes Advisory on USD 210.5 Million IPO for Al Ansari Financial Services

EFG Hermes Concludes Advisory on USD 210.5 Million IPO for Al Ansari Financial Services
  • 06/04/2023 - 10:28 am
  • write : Ali
  • Stock Exchange

Font size

A A
Share on FacebookShare on Twitter

The IPO garnered significant traction from institutional and retail investors alike — having been oversubscribed c.22 times and generating AED 12.7 billion in demand — and marks one of the first UAE family-owned businesses to go public

EFG Hermes, the leading investment bank franchise in Frontier and Emerging Markets (FEM), announced today that its investment banking division successfully completed advisory on the USD 210.5 million (AED 773 million) initial public offering (IPO) of Al Ansari Financial Services PJSC (AAFS) — one of the UAE’s leading integrated financial services groups specializing in the money transfer and exchange business — on the DFM.

EFG Hermes acted as joint global coordinator on the transaction, marking the Firm’s fourth joint global coordinator role in the last six months, with others including Taaleem’s USD 204 million IPO on the DFM and The Pearl REIF’s USD 60.6 million IPO on the Muscat Stock Exchange (MSX) in November 2022, in addition to Abraj Energy’s USD 244 million IPO on the MSX in March 2023.

The listing saw AAFS offer a total of 10% of its share capital, equivalent to 750,000,000 shares, at a nominal value of AED 1.03/share — implying a market capitalization of AED 7.73 billion (USD 2.10 billion). The offering was 22x oversubscribed and was priced at the higher end of the announced price range.

The IPO was comprised of a Qualified Investor Offering, which generated strong demand worth AED 10.2 billion from both international and regional investors, and a UAE Retail Offering, which generated demand worth AED 2.5 billion.

AAFS is one of the leading UAE-based integrated financial service groups, boasting over 50 years of experience in the money transfer and exchange business.

Today, the family-owned group has built a specialized financial ecosystem that provides cross-border payments, foreign currency exchange solutions, and access to the Wage Protection System (WPS) in the UAE, among other services including bill collections and pre-paid cards, as well as payment technology solutions to consumers and businesses in the rapidly growing payments and foreign currency exchange and remittance market in the country.

The company began trading today under the ticker ALANSARI.

Mohamed Fahmi, EFG Hermes’ Co-Head of Investment Banking, commented, “We are excited to have advised on yet another key transaction for the UAE — the first for a family-owned UAE business in recent memory and a tremendous achievement that falls directly in line with the emirate’s push to grow legacy businesses, drive overall economic activity, and attract investment activity amid a challenging global backdrop. The GCC has bucked the global trend, seeing investors grow increasingly attracted to its strong fundamentals and the inroads made to deepen capital markets — a momentum we have capitalized on to lead on some of the largest listings in the region, the most recent being ADNOC Gas on the ADX and Abraj Energy on the MSX.

As we mark our fourth joint global coordinator role in under six months, we plan to continue to expand our foothold in the GCC to bring to market quality prospects that generate lucrative returns while enabling our clients to raise necessary capital to carry out their growth plans.”

This transaction marks the Firm’s third IPO this year and is the latest of several landmark transactions EFG Hermes has advised on, having concluded 2022 with 12 ECM deals valued at USD 12.8 billion.

Most recently, the division advised on ADNOC Gas plc’s USD 2.5 billion IPO on the ADX, and Oman’s Abraj Energy’s USD 244 million IPO on the MSX.

The division also advised on the first dual listing between the ADX and Saudi Exchange in a deal worth USD 1.8 billion for Americana Restaurants International. Additionally, it advised on Taaleem’s USD 204 million IPO and Salik’s USD 1.0 billion listings on the DFM.

In Abu Dhabi, the division concluded advisory on the USD 2.0 billion listing of Borouge plc on the ADX. In Saudi Arabia, EFG Hermes Investment Banking advised on Riyadh Cables’ USD 400 million IPO on the Saudi Exchange. In Kuwait, the division advised on Ali Alghanim and Sons Automotive Company’s USD 323 million private placement ahead its IPO on Boursa Kuwait.

 

Tags: Al Ansari Financial ServicesbusinessesEFG Hermesemerging marketsfinancial service

Short link:

RelatedPosts

Related Posts

إي اف چي هيرميس تطلق مؤتمرها السنوي التاسع عشر للاستثمار
Home

EFG Hermes Kicks Off 19th Annual One-on-One Investor Conference

إي اف چي هيرميس تتمم خدماتها الاستشارية لصفقة الطرح العام الأولي لشركة «ألفا داتا»
Home

EFG Hermes Completes Advisory on USD 163 Million IPO of Alpha Data on the Abu Dhabi Securities Exchange

إي اف چي هيرميس توقع شراكة استراتيجية مع كيدزانيا القاهرة
Home

EFG Hermes Partners with KidZania Cairo

إي اف چي هيرميس تحصد المركز الأول بأسواق رأس المال بالشرق الأوسط وشمال إفريقيا
Home

EFG Hermes Secures #1 Position in MENA Equity Capital Markets for 2024

إي اف چي هيرميس تتم صفقة الطرح العام الأولي لمجموعة الموسى الصحية في تداول السعودية
Home

EFG Hermes Completes Advisory on USD 449 Million IPO of Almoosa Healthcare Company on the Saudi Exchange

هيرميس تغلق توريق بقيمة 1,78 مليار جنيه لصالح «بداية للتمويل العقاري»
Home

EFG Hermes Closes EGP 1.78 Billion Securitization Deal for Bedaya Mortgage Finance

Next Post
لجمع مليون تبرع .. مارس الشرق الأوسط وأفريقيا تطلق حملة شوكولاتة جالاكسي العربية

Mars Middle East & Africa sets target of one million donations through Galaxy Chocolate Arabia campaign

About Eleqtisade News

Eleqtisade News website is concerned with all economic affairs at the local level in various sectors, including banks, the stock market, investment, real estate, cars, communications, markets, tourism, energy, transportation, navigation, insurance, and others.

Categories

  • Banks
  • Cars and transportation
  • Economy of Egypt
  • Energy
  • External economy
  • Home
  • Industry and investment
  • Markets
  • Opinion writers
  • Real Estate
  • Social responsibility
  • Stock Exchange
  • Tech
  • Tourism & Aviation
All rights reserved 2024 © Eleqtisade News . Powered by 
  • About
  • Advertise
  • Careers
  • Contact
  • Editorial Board
  • Homepage
wpChatIcon
wpChatIcon
No Result
View All Result
  • Home
  • Economy
    • Economy of Egypt
  • Banks
  • Stock Exchange
  • Tech
  • Social responsibility
  • More
    • Real Estate
    • Industry and investment
    • Cars and transportation
    • Energy
    • Know your bank
    • Markets
    • Opinion writers
    • Tourism & Aviation
    • video
  • English
    • العربية
    • English

All rights reserved 2024 © Al-Iqtisadi News. Powered by