Egypt’s EFG-Hermes advising on 5-6 IPOs, acquisitions

Cairo: Egypt’s EFG Hermes is advising on 5-6 initial public offerings (IPOs) and acquisitions through 2017, Mostafa Gad, co-head of EFG Hermes’ investment banking division, told Reuters on Monday.

The IPOs and acquisitions are valued at $500-700 million and are in the consumer goods, health, banking and other sectors, Gad said.

EFG Hermes reported an almost eight-fold increase in net profits to 1.6 billion Egyptian pounds on revenues of 4 billion pounds, up 279 per cent year on year in the last financial year.