EFG Holding (HRHO)

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News

19 April 2016 09:29 PM Egypt’s EFG-Hermes’ unit to manage 49% stake in European wind portfolio

Cairo – Mubasher: EFG - Hermes-managed energy platform, Vortex, has signed an acquisition agreement with EDP Renováveis worth €550 million to take a stake in 664-MW European wind portfolio, according to EFG-Hermes press release. By this agreement, …

Companies Investments

17 April 2016 03:55 PM EFG-Hermes' leasing unit targets twofold increase in market share

By Ahmed Allam Cairo – Mubasher: EFG-Hermes Leasing, a subsidiary of EFG-Hermes, plans on doubling the market share by 10% in 2016, said Ahmed El-Kholy, the Group’s CEO. The subsidiary also targets to enter into agreements worth EGP1-1.5 billion …

Macroeconomics

13 April 2016 05:17 PM EFG-Hermes nears acquisition of EGB’s stake in Tanmeyah

Cairo – Mubasher: EFG-Hermes Holding said on Wednesday it is close to acquire a 17.3% stake in Tanmeyah Microenterprise Services, from Egyptian Gulf Bank (EGB), in a deal worth EGP 77.9 million. Upon finalising the deal, EFG-Hermes will own 94% in …

Mergers and Acquisitions

27 March 2016 11:08 AM EFG-Hermes to bid for 51% stake in Pakistani brokerage firm

Cairo – Mubasher: EFG-Hermes Holding said Sunday it is planning to acquire a 51% stake in Pakistan’s Invest & Finance Securities Limited.  The deal is pending the approval of the group’s board, in addition completion of auditing and due-diligence …

Corporate Actions

23 March 2016 10:56 AM EFG-Hermes Q4 profits down 39%

Cairo – Mubasher: EFG-Hermes Holding posted a slide in net profits for the fourth quarter of 2015 by 38.9%, the company's financial results indicated.  The company’s Q4-15 profits after tax and minority interests shrank to EGP80 million from …

Financial Results

20 March 2016 02:35 PM EFG-Hermes’ exit from Lebanon’s bank ‘positive’ – MubasherTrade

Mubasher: The decision taken by EFG-Hermes Holding to sell its equity in Credit Libanais Bank is “positive”, said MubasherTrade Research (MTR). EFG Hermes said Thursday its board of directors gave the go-ahead to selling its 63.7% stake owned in …

Stock Evaluations

17 March 2016 10:25 AM EFG Hermes divests stake in Credit Libanais Bank

Cairo – Mubasher: EFG Hermes Holding said its board of directors gave the go-ahead to selling its 63.7% stake owned in Credit Libanais Bank. EFG Hermes is currently working on securing the approvals of the Lebanese central bank to proceed with …

Companies Investments

7 March 2016 04:59 PM EFG-Hermes to manage 2 acquisitions in KSA’s foodstuff sector

By Amr Adel Dubai – Mubasher: EFG-Hermes is targeting the management of two takeover deals in Saudi Arabia’s foodstuff sector, Mohamed Fahmy, investment director at EFG-Hermes, said on Monday. Speaking to reporters during a conference held in …

Companies Investments

7 March 2016 00:57 PM EFG-Hermes targets new IPO in H1-2016

Dubai - Mubasher: Egypt's investment bank EFG-Hermes plans to run a new initial public offering (IPO) on Cairo bourse before the end of the first half of 2016, said Mostafa Gad, EFG Hermes' investment banking director. EFG-Hermes was mandated to …

Initial Public Offerings

6 March 2016 01:15 AM Qalaa finalises deal to sell Tanmeyah to EFG-Hermes

By Ahmed Allam Cairo – Mubasher: Qalaa Holdings said it completed a deal to sell its full ownership in Tanmeyah, an Egypt-based provider of microloans and microinsurance, to Egyptian Financial Group (EFG) Hermes. Tanmeyah sale is the latest in a …

Companies Investments

3 March 2016 05:27 PM EFG Hermes finishes acquiring 76.7% of Tanmeyah

Cairo – Mubasher: EFG Hermes said it finished the acquisition of 76.7% of Tanmeyah Microenterprise Services for EGP 345 million. EFG Hermes completed all the procedures, as well as secured the approvals of the regulatory bodies, said a bourse …

Mergers and Acquisitions

1 March 2016 04:31 PM EGB to sell Tanmeyah’s stake

Cairo – Mubasher: The board of directors of Egyptian Gulf Bank (EGB) gave a nod to sell the bank’s stake in Tanmeyah Micro Enterprise Services. EGB’s 15.91% stake in Tanmeyah would be sold for EGP 71.6 million. The lender did not state any details …

Companies Investments

24 February 2016 10:59 AM Qalaa to sell stake in Tanmeyah to EFG Hermes

Cairo - Mubasher: Qalaa Holdings, formerly Citadel Capital, said it has signed an agreement to sell its entire stake in Tanmeyah to EFG Hermes for EGP 345 million. The transaction accounts for 70% of Tanmeyah, a company worth a total of EGP 450 …

Mergers and Acquisitions

11 January 2016 10:18 AM EGX lists EFG-Hermes post-capital cut shares 11 Jan

Cairo – Mubasher: The Egyptian Exchange (EGX) said it will list EFG-Hermes post-capital cut shares on Monday 11 January 2015. The firm had moved to reduce its capital from EGP 3.26 billion to EGP 3.1 billion, distributed across 614.9 million …

Insider Trading & Treasury Stocks

10 January 2016 01:35 PM EFG-Hermes stocks crash to 15-day low ahead of capital cut

Cairo – Mubasher: The share price of the Egyptian Financial Group Hermes Holding reached the level of EGP 8.1 in Sunday’s midday session, sinking to its lowest level in 15 sessions or since mid-December. The company’s stocks fell 3.2% on trading …

Trading Activities

6 January 2016 02:50 PM EFG-Hermes post-capital cut shares to be listed 11 Jan

Cairo - Mubasher: The Egyptian Exchange (EGX)said it will go for listing Egyptian Financial Group Hermes Holding's post-capital cut shares on 11 January. In related development, the listing committee of EGX gave a nod to cut the company's capital …

Corporate Actions

31 December 2015 00:04 PM EFG-Hermes files with EGX for capital reduction

Cairo - Mubasher: The Egyptian Exchange (EGX) announced it received Thursday a disclosure report from EFG-Hermes Holding as regards reducing the company's capital. The capital cut will be effected through the cancellation of 37 million treasury …

Corporate Actions

14 December 2015 06:14 PM EFG finalises Medsofts Group acquisition deal

Cairo – Mubasher: EFG-Hermes said Monday it has advised on the acquisition of 50% in Cairo-based Medsofts Group by U.S.-based Archer Daniels Midland. EFG added it was the sole advisor on the deal whose value was not disclosed. The deal is expected …

Mergers and Acquisitions

9 December 2015 05:16 PM EFG Hermes' related groups sell 13mn shares

Cairo - Mubasher: EFG - Hermes announced that related groups have sold nearly 13 million shares in the company for EGP 103.6 million. SKAGEN GLOBAL has sold 9.930 million shares or 0.78% for EGP 79.12 million. Meanwhile, SKAGEN GLOBAL II sold …

Insider Trading & Treasury Stocks

16 November 2015 01:57 PM EFG-Hermes shareholders approve capital cut

Cairo - Mubasher: Egypt’s leading investment bank EFG-Hermes Holding announced that its extraordinary general meeting has approved, through its second meeting, reducing the company's issued capital. The company will slash its capital by EGP 184.78 …

Corporate Actions

11 November 2015 10:52 AM EFG-Hermes 9-month consolidated profits rise 2%

Cairo - Mubasher: Egypt’s leading investment bank EFG-Hermes Holding posted a 2% rise in consolidated net profits to EGP 536.51 million for the first nine months of 2015. EFG-Hermes saw net profits of EGP 525.97 million for the comparable period …

Financial Results

10 November 2015 02:49 PM EFG-Hermes seeks to bring added- value in leasing services

Cairo - Mubasher: EFG-Hermes Leasing seeks to provide value - added in the leasing services, through penetrating the industrial, logistics and transportation sectors, said Wael Ziada, executive chairman of EFG Hermes Leasing. EFG-Hermes Leasing is …

Companies Investments

8 November 2015 10:31 AM Amer Group hires EFG, Tharwa for securitisation

Cairo – Mubasher: Amer Group Holding said, in a bourse filing Sunday it decided to assign its securitisation process to EFG-Hermes and Tharwa Capital. In October, Amer was cleared by the board of directors to launch the second securitisation issue …

Corporate Actions

1 November 2015 11:36 AM EFG-Hermes calls off general meeting on lack of quorum

Cairo - Mubasher:  EFG-Hermes, a leading investment bank, said its extraordinary general meeting, scheduled for Sunday, 1 November, was delayed due to lack of quorum. The shareholders meeting was going to discuss reducing the company's capital …

General Assembly

13 October 2015 11:01 AM EFG-Hermes shareholders to discuss capital cut 1 Nov

Cairo – Mubasher: EFG-Hermes, a leading investment bank said Tuesday it will hold an extraordinary general meeting on 1 November to look into capital decrease. The EGM will discuss reducing capital by EGP 184.78 million to EGP 3.07 billion from …

General Assembly