EFG Hermes KSA’s pipeline of over 30 deals includes IPOs, acquisitions: CEO

Saud Altassan, CEO of EFG Hermes KSA

EFG Hermes is currently engaged in over 30 deals, including initial public offerings (IPOs), acquisitions, and brokerage services, CEO Saud Altassan told Argaam.

Altassan highlighted that the scale of business in the Saudi market saw substantial growth compared to previous years.

In an interview on the sidelines of the EFG Hermes 10th Annual London Investor Conference, the CEO revealed that the company plans to work on offers of over SAR 1 billion in the Saudi financial market by the end of the year.

Altassan emphasized that the Saudi market is one of the most crucial in the region, having experienced significant growth in recent years due to government support and Vision 2030 initiatives. This growth attracted considerable interest from global investors, leading to numerous successful listings across various sectors.

From a consultancy perspective, Altassan noted that the Saudi market remains robust, with many successful IPOs. He also mentioned that several major companies are preparing for IPOs either later this year or in 2025.

The conference, which focuses on investment in the Middle East, saw strong participation from companies and investors, with over 600 attendees, including more than 100 companies from various sectors and over 140 financial and international institutions. The overall feedback from the conference was positive.