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10/25/24, 4:26 PM EFG Hermes successfully completes sale of Helmerich & Payne's $197m stake in ADNOC Drilling - Dailynewsegypt
Ali Khalpey, Head of Equity Capital Markets at EFG Hermes

EFG Hermes, an EFG Holding Company and the leading investment bank in the Middle East and North
Africa (MENA) announced Monday that its investment banking division has successfully completed an

accelerated book build (ABB) on behalf of Helmerich & Payne, Inc. (H&P). This transaction involved the
full divestment of H&P’s stake in ADNOC Drilling, valued at approximately $197m.

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 o ering
(IPO).

Commenting on the transaction, 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 o ering attracted a strong group of investors, underscoring

continued con dence in ADNOC Drilling’s promising future.”

He added, “Our expertise in managing accelerated book builds enables us to help clients optimize their
investment strategies, even in complex market environments. This transaction demonstrates EFG
Hermes’ deep understanding of regional capital markets and highlights our extensive distribution

capabilities.”

This transaction marks EFG Hermes’ fth follow-on o ering in the GCC this year and its third transaction
on the Abu Dhabi Securities Exchange (ADX), including its role in the IPO of ALEF Education. It is also the

second ABB executed on ADNOC Drilling by the rm.

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