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Sunday, 15 July 2018

EFG Hermes enters frontier markets with ASAI’s GBP 125 mn IPO

EFG Hermes concludes advisory on GBP 125 mn London Stock Exchange IPO of world’s largest microfinance lender: Our friends at EFG Hermes announced on Friday (pdf) took microfinance lender ASA International (ASAI) public on Friday with a GBP 125 mn initial public offering on the LSE. EFG Hermes, Citigroup, Investec and Keefe, Bruyette & Woods were advisors on the transaction, the LSE noted in a statement. The transaction saw ASAI shareholder Catalyst Microfinance Investors sell 40% of the company to institutional investors at GBP 3.13 per share. “This is a milestone transaction for EFG Hermes and one that marks the firm’s first investment banking foray in frontier markets following the launch of our frontier strategy in early 2017,” said EFG Hermes Frontier CEO Ali Khalpey (at left in photo, above). “In just over 18 months since we began building our frontier platform, we have directly entered three new frontier markets; established distribution and sales capabilities in New York, London, Pakistan, Kenya, and Bangladesh; expanded our execution to cover 95% of the MSCI Emerging & Frontier Markets Index.”

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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.