Arab Finance: EFG Hermes, a subsidiary of EFG Holding, has concluded the advisory on the $150 million initial public offering (IPO) of Miahona in the Saudi Exchange, as per an emailed press release.

EFG Hermes acted as a joint financial advisor, bookrunner, and underwriter.

Miahona offered 30% of its total issued share capital through the sale of nearly 48.277 existing ordinary shares at SAR 11.5 per share, indicating a market capitalization of SAR 1.845 billion.

Miahona commenced trading under the ticker (2084) after it was 174x oversubscribed.

Established in 2008 and headquartered in Riyadh, Miahona specializes in water cycle management, catering to municipal and industrial clients.

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