EFG Hermes Targets Saudi and Kuwait IPOs, ABBs in 2025
Strong Start to 2025 with $575.7 Million Raised
EFG Hermes kicked off 2025 with three successful IPOs, raising a total of $575.7 million. The bank now prepares for a busy rest of the year with seven IPOs in the pipeline.
Busy Months Ahead Despite Market Uncertainty
Global Head of Investment Banking, Mostafa Gad, said May and June look extremely busy. He remains cautious for the next two weeks, monitoring markets impacted by global trade tensions.
Diverse Pipeline of IPOs Focuses on Saudi and Kuwait
EFG Hermes plans five IPOs in Q2 and two more in the second half. Most IPOs come from Saudi’s private sector, while one from Kuwait is scheduled for Q4.
On-the-Ground Presence in Key GCC Markets
With offices in Cairo, Dubai, Riyadh, Kuwait, and Oman, EFG Hermes boasts strong regional coverage. Its team of over 60 investment bankers and the largest research unit give it an edge.
Saudi’s Private Sector Drives Market Growth
Gad said Saudi’s vibrant private sector fuels ECM activity, even without heavy government spending. This makes the kingdom a key IPO market for EFG Hermes in 2025.
Sector Focus Remains on Healthcare, Tech, and Infrastructure
The bank continues to prioritize deals in healthcare, technology, consumer businesses, and infrastructure across MENA. In 2024, EFG Hermes led the ECM league with $19.7 billion from 17 deals.
Competing Strongly in ECM League Tables
In Q1 2025, EFG captured 12% market share, second to HSBC’s 24%. Its recent deals include UAE’s AlphaData, Oman’s Asyad Shipping, and an ABB for ADNOC Gas.
Accelerated Book Building Deals Gain Momentum
EFG Hermes expects more ABB deals in Saudi and UAE. It leads the ECM space in executing these fast-paced offerings for institutional investors.
Supporting Index Inclusion Through ABBs
The bank assists corporates with liquidity and investor access via ABBs. Gad said these deals improve index inclusion and bring in global investors.
Track Record of Major ECM Deals
In 2024, EFG raised $7.2 billion from 11 IPOs and $12.5 billion from follow-ons. It also participated in Aramco’s historic secondary offering and Saudi’s first unicorn listing, Nice One.