Page 168 - ALEF EDUCATION PR REPORT OCTOBER 2024

10/25/24, 4:27 PM EFG Hermes completes sale of H&P stake in Adnoc Drilling
EFG Hermes completes sale of H&P
stake in Adnoc Drilling

ABU DHABI, 11 days ago
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 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’ fifth follow-on offering 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 firm. -TardeArabia News Service

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