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EFG Hermes lead underwriter of Rajhi Group’s unit

EFG Hermes lead underwriter of Rajhi Group’s unit

ArabFinance: EFG Hermes has been assigned as lead underwriter to the Initial Public Offering of Rajhi Group’s Alwatania Poultry Egypt, Economy Plus cited unnamed sources.

EFG Hermes is currently working on determining the percentage to be offered and the timing of the offering, sources said.

Expanding the ownership through the private placement from potential investors is one of the presented solutions, sources said, noting that is expected to offer Alwatania’s share in quarter one 2022.

EFG Hermes decided to distribute a 0.2 free share for each one held.

The listed company has a presence in the United Arab Emirates, Saudi Arabia, Kuwait, Jordan, Oman, and Pakistan. It operates in holding and treasury, brokerage, asset management, investment banking, private equity, leasing, microfinance, and assets held for sale.

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