EFG Hermes, a leading investment bank in the Middle East and North Africa (MENA), announced Wednesday its successful advisory role in the $11bn secondary public offering of Saudi Aramco, the world’s largest integrated energy and chemicals company, on the Saudi Exchange.
This marks the largest secondary offering in the EMEA region since 2000 and the largest equity capital markets (ECM) offering in the Middle East since Aramco’s IPO in 2019.
The offering involved the sale of 1.545 billion existing shares at SAR 27.25 per share, representing 0.64% of Saudi Aramco’s total issued shares. EFG Hermes acted as a Joint Bookrunner on the transaction, which was fully marketed and garnered significant interest from investors.
“This landmark transaction underscores our enduring legacy of strategic partnerships and transformative deals,” said Ali Khalpey, Head of Equity Capital Markets at EFG Hermes’s Investment Banking division. “Our pivotal role in this transaction not only reaffirms our prominent position in the regional equity capital markets but also marks our 10th successful ECM deal this year, solidifying our position as the leading investment bank in the region.”
Khalpey emphasized the significance of this transaction in demonstrating the evolving maturity of the regional ECM landscape, showcasing diverse transactions beyond traditional IPOs. He also highlighted the recent success of the ADNOC Drilling accelerated equity offering, underscoring EFG Hermes’ commitment to driving innovation and excellence in the financial sector.
This transaction adds to EFG Hermes’ impressive track record of advising on significant deals in the GCC region, including 10 ECM deals in 2024 alone.
Notable recent transactions include roles as Joint Global Coordinator on the ALEF Education IPO on the ADX and the private placement of Beyout Investment Group (BIG) on Boursa Kuwait, as well as Joint Financial Advisor, Bookrunner, and Underwriter on Miahona’s IPO and a Joint Bookrunner on the IPO of healthcare provider Fakeeh Care Group on the Saudi Exchange.
Saudi Aramco, as the world’s largest integrated energy and chemicals company, aims to enhance its upstream and downstream operations, strengthen the resilience of its refining and chemicals portfolios, and grow its business sustainably through technological innovation and low-carbon initiatives.
