EFG Holding
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By Amr Adel:
Dubai-Mubasher Exclusive: Seif Fikry, chief executive officer, EFG-Hermes UAE said, in an interview with Mubasher that the group is currently considering the management of four new investment operations in the UAE markets.
These operations comprise two initial public offerings and two in the mergers and acquisitions activities, according to the top official.
Over the last two years, the bank has worked on seven operations in the UAE, which included four acquisitions and three IPOs for companies operating in foodstuff, tourism, real estate and personal financing sectors.
The promotion and underwriting team in EFG Hermes was involved in the share sale of Emirates REIT (REIT), which raised $175 million on Nasdaq Dubai in April. It also finalized a deal to sell a minority interest in Abu Dhabi foodstuff sector.
Fikry revealed that the group is currently working on expansions in its direct operations in the UAE next year to capitalize on available investment opportunities in tourism, trade and real estate.
He also noted that 2014 was the best year for EFG operations in the UAE and came in line with the parent group’s strategy of bolstering revenues from the GCC markets in addition to strengthening its role in luring capital from institutions in the region through assisting partners in benefiting from investment opportunities worldwide.
EFG currently has operations in Egypt, Saudi Arabia, UAE, Kuwait, Jordan, Lebanon, Oman and Qatar.
Asked about his view for the UAE economy, Fikry said that the policy of economic diversification and reducing reliance on crude through investing in infrastructure and other main sectors like tourism, industry, services, trade and transportation helped mitigate the impact from the plunge in global oil prices.
“It is still too early to judge how far capital markets were impacted by the swift fall in crude prices,” the official said, “we need some time, probably till February to see whether there is an actual effect on capital markets.”
The GCC markets have seen massive losses after global oil prices plummeted.
Translated by Sayed Abdel Rahman
Photo Credit: Arabianeye-Reuters
Dubai-Mubasher Exclusive: Seif Fikry, chief executive officer, EFG-Hermes UAE said, in an interview with Mubasher that the group is currently considering the management of four new investment operations in the UAE markets.
These operations comprise two initial public offerings and two in the mergers and acquisitions activities, according to the top official.
Over the last two years, the bank has worked on seven operations in the UAE, which included four acquisitions and three IPOs for companies operating in foodstuff, tourism, real estate and personal financing sectors.
The promotion and underwriting team in EFG Hermes was involved in the share sale of Emirates REIT (REIT), which raised $175 million on Nasdaq Dubai in April. It also finalized a deal to sell a minority interest in Abu Dhabi foodstuff sector.
Fikry revealed that the group is currently working on expansions in its direct operations in the UAE next year to capitalize on available investment opportunities in tourism, trade and real estate.
He also noted that 2014 was the best year for EFG operations in the UAE and came in line with the parent group’s strategy of bolstering revenues from the GCC markets in addition to strengthening its role in luring capital from institutions in the region through assisting partners in benefiting from investment opportunities worldwide.
EFG currently has operations in Egypt, Saudi Arabia, UAE, Kuwait, Jordan, Lebanon, Oman and Qatar.
Asked about his view for the UAE economy, Fikry said that the policy of economic diversification and reducing reliance on crude through investing in infrastructure and other main sectors like tourism, industry, services, trade and transportation helped mitigate the impact from the plunge in global oil prices.
“It is still too early to judge how far capital markets were impacted by the swift fall in crude prices,” the official said, “we need some time, probably till February to see whether there is an actual effect on capital markets.”
The GCC markets have seen massive losses after global oil prices plummeted.
Translated by Sayed Abdel Rahman
Photo Credit: Arabianeye-Reuters
Source:
Mubasher Exclusive
