Arab Finance: EFG Hermes, the investment arm of EFG Holding company, is looking forward to advising on four initial public offerings (IPOs) in the Saudi Exchange (Tadawul), set for launch before the end of this year, the company’s Co-CEO Mohamed Ebeid told Asharq Business.

Moreover, the company is planning to work on another two IPOs in the Saudi market within the first quarter (Q1) of 2025, Ebeid said.

The announcement came on the sidelines of the 10^th EFG Hermes Annual London Investor Conference, scheduled to take place from September 9^th to 12^th at the Emirates Stadium in London. 

According to Obaid, Saudi investors focus on the services, utilities, and maritime transportation sectors due to their cash returns distributed to shareholders.

Additionally, he confirmed that EFG Hermes is advising on two new IPOs of private companies in the Egyptian Exchange (EGX).

EFG Hermes has implemented around $14.5 billion worth of IPOs and secondary offerings so far in 2024 in the region, Ebeid pointed out.

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