SNG: Egypt: EFG Hermes completes advisory for Cherry Trading’s IPO on Tadawul

Staff WriterArab Finance: EFG Hermes, an EFG Holding company, has concluded its role as joint financial advisor, joint bookrunner, and joint underwriter on Cherry Trading Company’s initial public offering (IPO) on the Saudi Exchange (Tadawul), according to a press release.Cherry Trading gloated 9 million shares, representing 30% of its diluted share capital, with an offer price set at SAR 28 per share.The IPO valued the Saudi company at approximately SAR 840 million on a fully diluted basis and positioning the aggregate proceeds at SAR 252 million.Saud Altassan, CEO of EFG Hermes KSA, highlighted that Cherry’s IPO on Tadawul improves market depth and offers a credible path to diversified equity issuance for high-quality corporates.He emphasized that the transaction reinforces the Saudi Exchange’s evolution as a premier equity capital markets (ECM) platform capable of supporting scalable capital formation.Since the beginning of 2025, EFG Hermes has advised on eight mergers and acquisitions (M&A), 11 debt capital markets (DCM), and 13 ECM transactions across the region.This includes major transactions in Saudi Arabia, the UAE, Oman, and Egypt, underscoring its leadership in regional markets.Last November, EFG Hermes completed advisory on an EGP 3.821 billion securitized bond issuance for EFG Corp-Solutions.© 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (Syndigate.info).Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.