EFG Hermes Completes Advisory on Beyout Investment Group’s USD 147 Million Listing on Boursa Kuwait’s Premier Market

EFG Hermes Completes Advisory on Beyout Investment Group’s USD 147 Million Listing on Boursa Kuwait’s Premier Market

EFG Hermes was appointed as the Joint Global Coordinator and Joint Bookrunner for Beyout Investment Group’s Private Placement on Boursa Kuwait’s ‘Premier Market’ segment.

Kuwait City, June 11, 2024

EFG Hermes, an EFG Holding Company and the leading investment bank in the Middle East and North Africa (MENA), announced today that its investment banking division successfully completed advisory on the USD 147 million (KWD 45 million) listing on Boursa Kuwait’s Premier Market through a private placement for Beyout Investment Group Holding Company K.S.C. (BIG), the regional pioneer in providing comprehensive human resources and project lifecycle support complemented by real estate services. EFG Hermes UAE was appointed as Joint Global Coordinator and Joint Bookrunner for the listing.

BIG offered a total of 30% of its total issued share capital at 500 Kuwaiti Fils per share, implying a market capitalization of KWD 150 million (USD 489 million). The offering by the selling shareholders through a private placement is a strategic move towards diversifying the shareholder base, enhancing corporate governance, and broadening the Company’s network and visibility among key stakeholders.

This transaction marks the first offering on Boursa Kuwait in two years, following the successful offering of Ali Al Ghanim, which EFG Hermes also played a pivotal role in. The overwhelming interest in the transaction, as reflected in the high oversubscription, underscores the attractiveness of Kuwait as a market with strong fundamentals and compelling investment stories that EFG Hermes is dedicated to bringing to the forefront.

Mostafa Gad, Global Head of Investment Banking at EFG Hermes, commented, “We are excited to be a part of this milestone transaction for BIG. We have once again been able to successfully leverage our capabilities and our regional reach to partner with large regional entities as they look to grow and diversify their investor base. The Company’s diversified business model provides a strong foundation for stable and consistent growth, and we look forward to supporting BIG as it enters this exciting new phase of growth and development.”

BIG is a prominent investment holding company, specializing in nurturing a diversified portfolio of high-potential businesses. BIG was incorporated in 2006 to manage portfolios of an existing group of significantly growing companies and to diversify further into complementary service industries across the GCC region. The primary sources of revenue are driven through its leading subsidiaries, Kuwait Resources House (“KRH”) and Real Estate House (“REH”), which excel in their respective markets and drive sustainable business growth. Guided by integrity, excellence, and reliability, BIG continues to deliver lasting value for its clients, partners, and the broader economies in which it operates.

This transaction is the latest in a series of landmark deals that EFG Hermes has advised on in the GCC region over the years, including eight IPOs in 2023 alone and four in 2024 so far. Most recently, the investment banking division acted as the Joint Financial Advisor, Bookrunner, and Underwriter on the USD 150 Million IPO of Miahona on the Saudi Exchange, in addition to acting as Joint Bookrunner and Underwriter on the USD 764 Million IPO of Fakeeh Care Group on the Saudi Exchange, as well as being a joint bookrunner on the USD 375 million initial public offering (IPO) of Spinneys, an operator of premium grocery retail supermarkets, on the DFM which was covered more than 64 times and Parkin’s IPO USD 428.7 on the DFM – the most oversubscribed IPO on the DFM to date.

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About EFG Holding

EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a trailblazing financial institution that boasts a remarkable 40-year legacy of success in nine countries spanning three continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (aiBANK) — the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes.

EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers an extensive array of financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a leading provider of financial services in Egypt with a concerted focus on the micro and small enterprise segments, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a versatile financial technology powerhouse, PayTabs Egypt, a digital payment platform, as well as Bedaya for mortgage finance and Kaf for insurance. Furthermore, the company delivers commercial banking solutions through aiBANK, a leading provider of integrated retail, corporate, and Islamic banking products in Egypt.

Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Bahrain | Pakistan | UK | Kenya | Nigeria |

Learn more about us at www.efghldg.com