Summary of Proposed Investment
Project Number
10731
Company Name
EFG HERMES HOLDING SAE
Date SPI Disclosed
Dec 27, 2000
Country
Egypt, Arab Republic of
Industry
Financial Markets
Projected Board Date
Jan 31, 2001
Status
Completed
Sector
Other
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Mar 9, 2001
Signed : Mar 28, 2001
Invested : May 14, 2001
Project Description
EFG is a leading investment bank in Egypt with an excellent track record. Securities brokerage and investment banking are the two areas where EFG has been most active. For the past three years EFG has maintained its position as the leading broker on the Cairo and Alexandria Stock Exchange (CASE). The company''s investment banking group is involved in corporate finance and mergers and acquisitions (M&A) activities. It has also established itself as a leader in equity and debt offerings in Egypt. EFG''s other activities include asset management and private equity.
By supporting the regional expansion of a leading investment bank, IFC would contribute to the development and integration of regional capital markets. Most national capital markets in MENA countries are currently fragmented. They need consolidation and pooling of liquidity in order to attract more interest from domestic, regional and international investors. In addition, the proposed investment would enable a local investment bank to access medium-term funding for the first time and assist EFG in becoming a regional player with positive demonstration effect in the regional markets.
By supporting the regional expansion of a leading investment bank, IFC would contribute to the development and integration of regional capital markets. Most national capital markets in MENA countries are currently fragmented. They need consolidation and pooling of liquidity in order to attract more interest from domestic, regional and international investors. In addition, the proposed investment would enable a local investment bank to access medium-term funding for the first time and assist EFG in becoming a regional player with positive demonstration effect in the regional markets.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Vivek Pathak
World Trade Center
1191 Corniche El Nil, 12 Floor
Boulac, Cairo, Egypt
tel: (20-2) 5772-282
email: vpathak@ifc.org
World Trade Center
1191 Corniche El Nil, 12 Floor
Boulac, Cairo, Egypt
tel: (20-2) 5772-282
email: vpathak@ifc.org