Abu Dhabi: EFG Hermes, an EFG Holding Company and the leading investment bank in the Middle East and North Africa (MENA), announced today the successful completion of an accelerated book build (ABB) on behalf of Helmerich & Payne, Inc. (H&P). The transaction involved the full divestment of H&P’s stake in ADNOC Drilling, valued at approximately USD 197 million.
EFG Hermes acted as Joint Global Coordinator for the ABB, facilitating H&P’s exit from ADNOC Drilling, a stake initially acquired as a cornerstone investor during the company’s initial public offering (IPO).
Commenting on the transaction, Ali Khalpey, Head of Equity Capital Markets at EFG Hermes, said: “We are proud to have successfully supported Helmerich & Payne in this important transaction. Despite a challenging geopolitical backdrop, the offering attracted a strong group of investors, underscoring continued confidence in ADNOC Drilling’s promising future.” He added, “Our expertise in managing accelerated book builds enables us to help clients optimize their investment strategies, even in complex market environments. This transaction demonstrates EFG Hermes’ deep understanding of regional capital markets and highlights our extensive distribution capabilities.”
This transaction marks EFG Hermes' fifth follow-on offering in the GCC this year and its third on the Abu Dhabi Securities Exchange (ADX), including its involvement in the IPO of ALEF Education. It is also the second ABB executed by the firm on ADNOC Drilling.
