EFG Hermes, a leading financial services company, has disclosed plans for three initial public offerings (IPOs) and various mergers and acquisitions in its Saudi pipeline. Karim Meleka, Managing Director of Investment Banking at EFG Hermes, highlighted the company’s intent to bring a “profitable, high-tech growth” entity to market, with upcoming IPOs expected to align with sectors traditionally targeted by the firm. Meleka expressed satisfaction with the Kingdom’s market diversification, emphasizing a more varied product offering compared to neighboring markets. He credited the Capital Market Authority as a critical factor in the success of Saudi markets, commending its pragmatic approach and ability to balance investor demands with local norms.
Meleka emphasized the bullish sentiment among local investors and the government’s proactive role in fostering growth, envisioning Saudi Arabia as a potential beacon for companies without a natural listing venue. As Saudi Arabia positions itself on the global stage, Meleka anticipates the Kingdom becoming a hub for emerging markets seeking international exposure and regulatory support.