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Reading: Hermes aims to complete 5 offerings on Gulf stock markets during 2022
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Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
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Dailynewsegypt > Blog > Business > Hermes aims to complete 5 offerings on Gulf stock markets during 2022
Business

Hermes aims to complete 5 offerings on Gulf stock markets during 2022

Fatma Salah
Last updated: 2022/07/06 at 12:54 PM
By Fatma Salah 2 Min Read
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Hermes aims to complete 5 offerings on Gulf stock markets during 2022
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EFG Hermes is preparing seven offerings on Saudi Tadawul and Abu Dhabi Securities Exchanges.

Mostafa Gad, co-head of the promotion and underwriting sector at EFG Hermes, said that the group is preparing to complete about four to five offerings on the Gulf stock exchanges during 2022, out of a total of the seven it is currently managing.

During the past 12 months, the total value of primary and secondary offerings in the GCC markets exceeded $2bn.

He ruled out the possibility of completing the offerings on EGX this year due to the current market conditions.

In a related context, Gad added that the completion or issuance of future rights securitization in favor of Cairo Investment Company, with a value of EGP 2bn, is expected to be completed within two months after the necessary procedures are done with the Financial Regulatory Authority (FRA). He pointed out that the company will securitize future cash flows for part of the tuition of its schools.

Mostafa Gad said earlier that the group is preparing for two offerings in the Saudi market in the health and retail sectors, and more than one acquisition.

He added that Hermes is working on acquisitions in the health, financial and logistic sectors in Egypt, stressing that there is great interest in acquisitions in the Egyptian market thanks to the attractive prices.

Gad pointed out that the Gulf region has significantly benefited from the current global conditions as a result of high oil prices, which increased its attractiveness to investors. He also highlighted the strong performance of the Saudi, Kuwaiti, and UAE markets despite global conditions, but noted that Egypt was negatively affected by oil and food prices.

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Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
TikTok updates its community guidelines
Business
Strong representation of women in TV series of Ramadan 2023
Strong representation of women in TV series of Ramadan 2023
Culture Cinema
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
Business
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
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