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EFG Hermes Successfully Concludes Advisory on the Follow-on Sale of c. 73.9 million shares of Fawry for Banking Technology and Electronic Payments on the Egyptian Stock Exchange

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This deal represents the Firm’s Investment Banking division’s solid ability to execute consecutive transactions despite challenging external conditions

EFG Hermes, the leading financial services corporation in Frontier Emerging Markets (FEM), successfully concluded advisory on the follow-on sale of c. 73.9 million (c. 4.3%) shares of Fawry for Banking Technology and Electronic Payments SAE (FWRY.CA) on the Egyptian Stock Exchange (EGX), in a c. USD 80.0 million transaction. The Firm acted as sole financial advisor as well as joint bookrunner, on behalf of the selling shareholders; the Egyptian American Enterprise Fund; Link HoldCo BV (Helios); responsAbility; and Black Sparrow (MENA LTV).

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“The successful sale of c. 4.3% of Fawry reaffirms our solid relationship with the company and its shareholders. Our partnership has started growing in strength ever since the conclusion of EFG Hermes’ advisory on the sale of Fawry to a consortium of investors in 2015, and continued to thrive with the Firm taking the company public in 2019, as well as a renowned post-IPO follow-on offering and rights-issue,” commented Co-Head of Investment Banking at EFG Hermes Mostafa Gad. “This deal highlights our investment banking team’s steadfast ability in executing transactions across ECM, DCM and M&A despite a challenging external environment.”

Since its establishment in 2008, Fawry has been committed to serving millions of consumers and businesses using diverse payment channels and an unrivaled infrastructure network of more than 230 thousand service points across 300 cities. Today it stands as the nation’s leading electronic payments gateway and Egyptians’ primary e-payment platform of choice.

EFG Hermes was ranked third on the ECM ranking league tables for the Middle East & North Africa for
the first half of 2021. This c. USD 80.0 million deal marks the Firm’s sixth ECM deal in 2021 following the rights-issue for Fawry; the dual-listing of Integrated Diagnostic Holdings (IDH); the international IPOs of Theeb Rent A Car and Alkhorayef Water and Power Technologies on the Saudi Stock Exchange (Tadawul); and the international IPO of Al Yah Satellite Communications Company (Yahsat) on the Abu Dhabi Securities Exchange (ADX).

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