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Arab African International Securities targets EGP 7bn in managed assets by year-end
EFG Hermes will finance equity component of transaction on its own balance sheet
The rate will witness further decline during 2017/18: EFG Hermes expert
Baker McKenzie and White & Case are legal advisers
EFG-Hermes intends to play the role of initial public offering (IPO) underwriter for a 50% ratio of the capital of the agreement entered into by Vortex Company to acquire various solar power projects owned by Terra Form Power in the United Kingdom at a value of £470m. EFG-Hermes will retain 5% of the value of …
The company will remain the owner of the ruling share in the bank after the offering, says prominent banker
The EGX kept moving upwards during last week, registering a 1.76% rise as it increased from 7,453.1 points to 7,618 points.
EFG Hermes One-on-One Conference, research sector begins initial promotion among international financial institutions
Arabian Food Industries Company Domty announced today the offering of up to 122,500,000 existing ordinary shares representing 49% of the company’s outstanding share capital listed on the Egyptian Exchange (EGX) currently owned by the selling shareholders.
Many banks, in coordination with the authority, consider establishing financial leasing companies
Awad explained that this is the first time in which non-registered companies will participate in company activities following the return of the tender market at the local and regional level.
Investment bank EFG-Hermes Financial has allocated EGP 50m for its sub-organisation Hermes Foundation for Social Development in order to pursue development projects in several villages in Upper Egypt beginning early 2015, according to the bank’s timetable for implementation. The project aims to provide services to 30,000 citizens. Mona Zulfikar, chairwoman of the board of trustees …
Curtain draws on Beltone-Sawiris deal to purchase 20% stake in Hermes after alliance purchased only 9% of shares
54.4m shares purchased represent less than 9% of total Hermes shares
Head of EFSA says oversight body is currently studying documents submitted to implement the deal
Hermes appoints financial advisor to assess share value in Sawiris purchase offer, financial oversight body asks for clarifications
Reuters – EFG Hermes, one of the largest investment banks in the Middle East, is seeking to expand its assets under management in Egypt by 25% this year, a senior executive said on Tuesday. Nabil Moussa, head of asset management for EFG in Egypt, told reporters that of the $3bn in assets the bank manages …
EFG also said it had recently acquired a 65 percent stake in Credit Libanais as it seeks to expand into retail and commercial banking.
The analysts stated that the recent downgrade would not have a large affect on Egypt’s banking sector, adding that the value of stock for some banks may decrease as a result, but only for one or two trading sessions at the most.
Company revenues rose 8% throughout 2012, with growth in Hermes’ investment banking sector rising 4%, totaling EGP 694m
Pioneers Holding, Beltone Financial and the Financial Brokerage Group published their stock trading information online.