Egypt’s EFG Hermes has successfully concluded its advisory role on the transaction of selling a combined stake of 7 percent (50 mn shares) in EGX-listed e-payment company Fawry for a group of shareholders.
the transaction is worth a total amount of $50 million.
EFG Hermes acted as sole bookrunner of the Fawry shares transaction on behalf of the selling shareholders including the Egyptian American Enterprise Fund (EAEF), the International Finance Corporation (IFC), a vehicle of private equity investor Helios, asset manager ResponsAbility, the National Bank of Egypt, Banque Misr, and a number of Fawry employees.
The EAEF, IFC, and Helios vehicle Link were among 40 shareholders who earlier this year the ownership of a 63.99 percent stake in Fawry previously held by PSI Netherlands Holding were transferred to.
EFG Hermes was ranked first on the ECM ranking league tables for the Middle East & North Africa (MENA) region for the first half (H1) of 2020. This $50m deal marks EFG Hermes’ second ECM in 2020, following the $700m IPO of leading Saudi Arabian private healthcare operator Dr Sulaiman Al Habib Medical Group on the Saudi Stock Exchange (Tadawul).
