Back to the complete issue
Wednesday, 11 July 2018

Orange Egypt’s capital increase was largest in MENA in 2Q2018, regional M&A activity reaches eight-year high

Orange Egypt’s capital increase was the largest in MENA in 2Q2018, M&A activity reached eight-year high: Orange Egypt’s USD 866 mn capital increase was the MENA region’s largest equity capital markets transaction in 1H2018, according to data released yesterday by Thomson Reuters. Total M&A transactions in the region reached an eight-year high during the quarter, growing by 74% y-o-y to USD 33.9 bn, driven largely by energy and power projects, which accounted for 32.8% of total M&As for the quarter. Transactions in the financial sector were the second-largest component with a 30.2% share.

Meanwhile, our friends at EFG Hermes were ranked the region’s top investment bank in terms of equity capital market underwriting fees, with a 24.4% market share. JP Morgan and Goldman Sachs followed in second and third place, respectively.

Debt capital market activity in the region slowed by 2% y-o-y in 1H2018 but remains at its second-highest level ever. Qatar had the largest share of debt issuances with 28.5% of the region’s total, followed by Saudi Arabia with 21.8%. Shariah-compliant transactions were down 44% yo-y in the second quarter of the year to USD 19.3 bn.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.