Mubasher TV
Contact Us Advertising   العربية

EFG Hermes showing interest in Nomu-Parallel Market

EFG Hermes showing interest in Nomu-Parallel Market
Photo Credit: Arabianeye-Reuters
EFG Holding
HRHO
-2.49% 17.65 -0.45
Masr ElSalam
MEDA
0.00% 0.00 0.00

By: Amr Adel

Dubai - Mubasher: The Co-Head of EFG Hermes investment banking, Mohamed Fahmi, said that the group is interested in the Saudi Nomu-Parallel Market.

Fahmi said in an answer to a question from Mubasher during a press event in Dubai that there are currently negotiations with a number of Saudi companies to be listed on the market to provide new investment opportunities for all firms, including small and medium enterprises (SMEs).

He also attributed not focusing on the initial public offering (IPOs) on the Saudi Stock Exchange (Tadawul) to the promotion to foreign institutions while the IPOs are still limited to local investors, noting that competition in the Saudi investment banking sector has become fierce due to the current domintating huge entities.

EFG Hermes is anticipating the Saudi market to be more open to foreign investors in new IPOs, he indicated.

The Co-Head also said that regional companies must be ready the Aramco IPO, noting that relevant data are not completely clear year, as most of it are based on speculations, adding that it will definitely affect liquidity levels in the region and around the world.