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10/25/24, 4:24 PM EFG Hermes completes the sale of Helmerich & Payne's full stake in ADNOC Drilling | Corporate-news – Gulf News
completion of an accelerated book build (ABB) on behalf of Helmerich & Payne, Inc.

(H&P). The transaction involved the full divestment of H&P’s stake in ADNOC Drilling,

valued at approximately USD 197 million.
EFG Hermes acted as Joint Global Coordinator for the ABB, facilitating H&P’s exit from

ADNOC Drilling, a stake initially acquired as a cornerstone investor during the

company’s initial public offering (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 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 on the Abu Dhabi Securities Exchange (ADX), including its involvement in the

IPO of ALEF Education. It is also the second ABB executed by the firm on ADNOC
Drilling.

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