EFG-Hermes is seeking to shift from the largest investment bank in the Middle East to an investment bank working in emerging and developing markets by entering new markets next year, such as Nigeria.
According to EFG-Hermes CEO Karim Awad, the company is seeking to geographically penetrate two new markets in the coming year in South East Asia and Africa with greater emphasis on deepening the group’s products.
Awad revealed a plan to merge the assets managed outside Egypt under the management of FIM Pakistan in the coming period, which will manage $2.5bn of funds and portfolios, in addition to $2.5bn direct investments, totalling $5bn, which is aimed to be doubled within 4-5 years.
For his part, Mohamed Ebeid, associate CEO of EFG-Hermes, revealed that his company aims to expand in Nigeria next year, as well as in one of the Southeast Asian markets, in order to increase diversification.
Mostafa Gad, associate president of promotion and IPOs coverage sector at EFG-Hermes said that the company is expecting to win three primary tenders in Egypt in 2018. One of them is in the banking sector, and two are in the industrial sector.
During a press conference at company headquarters, Gad said that part of Banque du Caire shares will be listed on the Egyptian Exchange in Q4 2018, ruling out the possibility of offering stakes outside the capital market.
Banque du Caire was listed on the EGX in February. EFG-Hermes and HSBC won the bookrunning task, while Baker McKenzie was given the role of legal consultant.
He also noted that the company is likely to run one or two offerings in the UAE in 2018, next to another offering on the London Exchange.
He added that the Egyptian market needs capital, as many sectors require more tools to be introduced to the market, following the floating of the pound, which reduced the offerings size.
Finally, he said that Unionaire Group’s offering will be the biggest on the EGX since 2015.