EFG Hermes to Expand into the United States with Permanent New York Office
The sustainable development project is in cooperation with the Kuwaiti Initiative for the Support of the Egyptian People and includes the construction of a building in the local school, the renovation of the health unit, homes for 35 families and the provision of employment opportunities for the local community.
As it transforms into a financial services corporation with access to frontier markets, EFG Hermes gives global investors a glimpse into some of the most compelling emerging and frontier market companies against a backdrop of changing global realities
EFG Hermes, the Arab world’s leading financial services corporation, reported today group earnings from continuing operations of EGP 48 million for the second quarter of 2016. Operating revenue for the period stood at EGP 288 million, up 10% year-on-year on the back of higher fee and commission income, including rising contributions from the company’s leasing business and additional revenue from the recently acquired microfinance player Tanmeyah.
EFG Hermes, the leading investment bank in the Arab world, announced today that Walid Hassouna, a veteran of the Egyptian banking community, will join the senior management team as Chief Executive Officer of EFG Hermes Finance and Group Head of Debt Capital Markets starting today.
EFG Hermes Investment Banking Concludes Advisory on B.TECH’s EGP300 Million Strategic Partnership with DPI, a Leading African Private Equity Firm
EFG Hermes Announces the Closing of Vortex’s EUR 550 Million Pan-European Deal; Doubling its Private Equity AUMs to USD 1.1 Billion and Bringing Total Group AUMs to USD 3.5 Billion
Ordinary shares of Cleopatra Hospital Company S.A.E. (stock code: CLHO.CA) will begin trading today on the Egyptian Exchange at 10:00am CLT, opening at EGP 9.00 per share. Trading begins after a book-building process that saw selling shareholder Care Healthcare Limited offer 34 million shares to international institutional investors and a further 6 million shares to Egyptian retail investors (together, the “Combined Offer”). The institutional offering was 6.73x oversubscribed and the Egyptian retail offering 28.6x oversubscribed.
62% surge in Investment Bank revenues to EGP 397 million comes amid strong performance from all lines of business; results of recently acquired microfinance player Tanmeyah will be consolidated beginning in 2Q2016.
The transaction is part of Vortex’s drive to own more than 1 GW of net installed capacity within the coming two years, and nearly doubles EFG Hermes’ private equity AUMs to USD 1.1 billion
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