Page 240 - 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 …
PRESSR: EFG Hermes

successfully concludes

landmark $935mln

accelerated equity offering

for ADNOC Drilling

May 24, 202418:28 GMT+4

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

majority 78.5% shareholding in the Company. EFG Hermes acted as a

Joint Global Coordinator and Joint Bookrunner for the Offering.

This transaction signifies a major achievement for EFG Hermes,

showcasing the company's increasing expertise and knowledge in

regional capital markets, particularly highlighting its strong

distribution network. The AEO sets a new standard in the region due

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