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EFG Hermes eyes two IPOS by Q4-FY14

EFG Hermes eyes two IPOS by Q4-FY14
EFG Holding
HRHO
1.53% 15.94 0.24
Egypt-based investment bank EFG Hermes seeks to handle the offering and listing of two companies on the Egyptian Exchange by Q4-FY14, as a part of five big entities it works on offering and listing them through 2014, group Managing Director of Banking Division ,Ahmed El Guindy told reuters on Monday. El Guindy declined to name any of the companies included in their IPO plan. EFG Hermes and CI Capital manage, now, jointly Arabian cement's IPO. El Guindy noted that Arabian cement's IPO success will open the door for more IPOs on 2015. The leading investment bank in the Arab World said it owns the biggest body of fund and portfolio management, with managed assets of more than $3.1 billion; $87 million worth of Saudi investments, $1976 million Egyptian investments and $1006 million UAE investments. EFG is utilizing the conventional and alternative investment solutions, like equities, fixed-income instruments, cash liquidity, preservation of capital, in addition to Sharia-compliant funds and portfolios.