Page 241 - AAE PR REPORT - June 2024

5/28/24, 9:11 AM PRESSR: EFG Hermes successfully concludes landmark $935mln accelerated equity offering for ADNOC Drilling — TradingView …
to its magnitude, reinforcing EFG Hermes's standing as the preferred

advisor for significant landmark transactions.

The Offering saw strong demand from institutional investors in the

GCC and internationally and was priced at AED 3.90 per share,

approximately 70% above the Initial Public Offering (IPO) price of

AED 2.30 per share and represents a 5.6% discount to the Company’s

closing price on May 22, 2024. Settlement of the Offering is

expected to occur on or around May 28, 2024.

“We are truly honored and proud to have been chosen to play a

pivotal role in this groundbreaking offering. Marking our seventh ECM

transaction with ADNOC, this transaction underscores the long-

standing and successful relationship between our two companies,”

stated Ali Khalpey, Head of Equity Capital Markets at EFG Hermes's

Investment Banking division. “This AEO, which attracted significant

institutional demand from Saudi Arabia, the UAE, and global

investors, establishes a new standard for the size and effectiveness

of such offerings in the region. It is the largest transaction of its kind

to date, potentially paving the way for further similar

opportunities.”

The successful completion of the ADNOC Drilling AEO underscores

EFG Hermes's commitment to delivering unparalleled service to its

clients and its ambition to lead the way in shaping the future of

financial services in the region and is the latest in a series of

landmark deals the Firm has advised on in the GCC over the years,

including eight IPOs in 2023 alone and two in 2024 so far. Most

https://www.tradingview.com/news/reuters.com,2024-05-24:newsml_Zaw4pMHlD:0-pressr-efg-hermes-successfully-concludes-landmark-935mln-acce… 2/3