Arab Finance: EFG Hermes, the group's investment bank, announced today EFG Holding The leader in the Middle East and North Africa markets, the Promotion and Underwriting Sector has succeeded in completing advisory services for the deal to sell Helmrich & Bain’s entire stake in ADNOC Drilling through the accelerated subscription book-building mechanism. The value of the deal amounted to approximately 197 million. US dollars, according to the statement sent on October 14.
EFG Hermes acted as the joint international coordinator for this deal, to facilitate Helmrich & Bain’s exit from ADNOC Drilling, through the sale of the stake it acquired as one of the main investors in the initial public offering of ADNOC Drilling.
In this context, Ali Khalbi, Head of the Capital Markets Sector at EFG Hermes, expressed his pride in the role the company played in completing this deal for Helmrich & Bain, despite the geopolitical tensions surrounding the region.
Khalbi pointed out that this deal succeeded in attracting the attention of a wide range of prominent investors, which reflects their confidence in the tremendous growth potential that is unique to ADNOC Drilling.
Khalbi added that the combined expertise that distinguishes EFG Hermes in completing deals through the accelerated subscription registry mechanism has contributed to enhancing the ability of investors to implement their investment strategies efficiently in light of the complex conditions that the region’s markets are going through.
Khalbi concluded that this deal reflects the company’s unique know-how and capabilities, as well as its strong presence in the region’s stock markets.
This deal is the fifth of its kind that the company has completed in the GCC markets and the third in the Abu Dhabi Stock Exchange during the year 2024, including the role played by EFG Hermes in the IPO process of Alef Education Holding Company.
This deal is also the second accelerated subscription process that EFG Hermes has implemented for ADNOC Drilling.
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