Page 237 - AAE PR REPORT - June 2024

5/28/24, 9:11 AM EFG Hermes successfully concludes landmark $935mln accelerated equity offering for ADNOC Drilling

Ali Khalpey, Head of Equity Capital Markets at EFG Hermes's Investment Banking division
EQUITIES
EFG Hermes successfully concludes

landmark $935mln accelerated equity

offering for ADNOC Drilling

EFG Hermes acted as a Joint Global Coordinator and Joint Bookrunner for the

largest offering of its kind in the UAE.

Press Release

May 24, 2024

Abu Dhabi: EFG Hermes, an EFG Holding company and the leading investment bank in

the Middle East and North Africa (MENA) region, announced today that its investment
banking division successfully concluded a landmark USD 935 million Accelerated Equity

Offering (AEO) for ADNOC Drilling Company PJSC ("ADNOC Drilling"), the biggest of its
kind in the UAE. Placement constitutes a sale of 880 million shares priced at AED 3.90,

representing 5.5% of ADNOC Drilling’s total share capital. ADNOC will continue to retain a

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