Page 16 - DMEA Week 22 2022

DMEA NEWS IN BRIEF DMEA

initial public offering (IPO) on the Abu Dhabi “We’re extremely proud of this transaction- offerings in the region that are fueling
Securities Exchange (ADX). as we continue to play a proactive role in economic growth, creating jobs, enhancing
The transaction marks the largest-ever enriching the Emirati market and the Middle competitiveness, and broadening investment
listing in Abu Dhabi’s history since ADNOC East at large with a multitude of accretive opportunities in the GCC.”
Drilling’s $1.1bn (Dhs4bn) IPO. investment prospects,” said Mohamed Fahmi, EFG Hermes Investment Banking has also
Borouge is a global petrochemicals EFG Hermes’ co-head of Investment Banking. served as advisor and joint bookrunner on the
producer specialising in value-creating plastic “Despite the macroeconomic turbulence that Dhs22.4bn listing of DEWA; joint bookrunner
solutions for agriculture, infrastructure, continues to pose a threat to global markets, on the Dhs2.9bn listing of Fertiglobe; joint
energy, packaging, mobility, and healthcare the UAE still manages to hold its stance as a bookrunner on the Dhs4bn listing of ADNOC
purposes. It has a team of over 3,100 promising and resilient equity market. Drilling on ADX; joint bookrunner on the
employees and serves a customer-base “The nation’s recent IPOs, which boomed Dhs2.7bn listing of Yahsat on ADX; and joint
spanning over 50 countries across Asia, the particularly in 2021, have garnered significant bookrunner and underwriter on Alkhorayef
Middle East and Africa. investor interest, solidifying the UAE’s Water & Power Technologies’ $144m IPO on
The company listed 3 billion shares on June position as a highly favourable destination Tadawul.
3 - 10 per cent of its share capital- at a share for equity investors. Borouge’s deal comes GULF BUSINESS
price of Dhs2.45. as the latest addition to a series of megahit

P16 www. NEWSBASE .com Week 22 02•June•2022