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10/25/24, 4:25 PM EFG Hermes completes sale of H&P stake in Adnoc Drilling
The new headquarters of the Egypt-based investment bank EFG-Hermes is seen on the outskirts of Cairo.
Reuters Images/Asmaa Waguih
EFG Hermes acted as Joint Global Coordinator for the ABB, facilitating H&P’s exit from
Adnoc Drilling, a stake it had initially acquired as a cornerstone investor during Adnoc
Drilling’s IPO
Staff Writer, TradeArabia
October 14, 2024
EFG Hermes, a leading investment bank in the Middle East and North Africa, has completed an
accelerated book build on behalf of Helmerich & Payne (H&P), involving the divestment of H&P's $197
million stake in Adnoc Drilling.
EFG Hermes acted as Joint Global Coordinator for the ABB, facilitating H&P’s exit from Adnoc Drilling, a
stake it had initially acquired as a cornerstone investor during Adnoc Drilling’s initial public offering (IPO).
Ali Khalpey, Head of Equity Capital Markets at EFG Hermes, said: “We are proud to have successfully
supported Helmerich & Payne in this important transaction. Despite a challenging geopolitical backdrop,
the offering attracted a strong group of investors, underscoring continued confidence in Adnoc Drilling’s
promising future." He added, "Our expertise in managing accelerated book builds enables us to help
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