SNG: Egypt: EFG Hermes completes advisory for Cherry Trading’s IPO on Tadawul
EFG Hermes completed its advisory role for Cherry Trading's IPO on the Saudi Exchange, offering 9 million shares at SAR 28 each, valuing the company at SAR 840 million. The IPO enhances market depth and supports scalable capital formation on Tadawul. EFG Hermes has advised on numerous regional transactions, highlighting its market leadership.
Staff Writer
Arab 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.
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