Arab Finance: EFG Hermes’ investment banking division has successfully concluded advisory on the $748 million initial public offering (IPO) of the Omani OQ Gas Networks (OQGN) on the Muscat Stock Exchange (MSX), as per an emailed press release.

EFG Hermes served as joint global coordinator on the transaction, which marks its seventh advisory on an IPO this year.

As per the IPO, OQGN offered 49% of its total issued share capital, or 2.12 billion shares, at a value of 140 Baizas per share, which implies a market capitalization of $1.6 billion and marks the country’s largest IPO ever.

“The deal underscores our commitment to delivering exceptional advisory services in FEM, further solidifying our position as a leading investment bank franchise in the region,” Karim Meleka, Managing Director at EFG Hermes’ Investment Banking Division, commented.

EFG Hermes wraps up advisory on Budget Saudi’s $121M acquisition of AutoWorld Updated 7/21/2024 1:35:00 PM

EFG Hermes completes advisory on Electra Investment’s stake acquisition in Elsewedy Electric Updated 7/10/2024 12:45:00 PM

EFG Hermes wraps up advisory on EFG Corp-Solutions’ EGP 433M note issuance Updated 7/1/2024 9:38:00 AM

EFG Hermes advises on Alef Education's $515M IPO on ADX Updated 6/12/2024 11:18:00 AM

EFG Hermes advises on Beyout Investment Group’s $147M Listing on Boursa Kuwait Updated 6/11/2024 1:52:00 PM