EFG Hermes has managed several successful initial public offerings (IPOs) in the Gulf markets, particularly in Saudi Arabia, the UAE, Kuwait, and Oman. Saudi MarketMohamed 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. The Saudi market had a positive performance in the first quarter of this year. According to EFG Hermes’ Co-Head of Investment Banking, the Saudi government has worked directly to overcome obstacles to foreign direct investment. Fahmi believes that the strength of the Saudi market lies in the availability of multiple financing opportunities at all levels.

Source: Daily News Egypt August 14, 2023 19:50 UTC