EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA) region, announced today that it has successfully acted as the Financial Advisor and Bookrunner to Depa PLC (“Depa”) on its pro rata renounceable rights issue, a key capital-raising transaction supporting the company’s strategic growth agenda.
Depa, a global interior solutions group listed on Nasdaq Dubai, is issuing 2,438,518,519 new Ordinary Shares at an offer price of AED 0.27 per share. This represents a total expected raise of approximately AED 658.4 million.
Proceeds from the capital raise will be used to support working capital requirements for subsidiaries, fund initiatives to enhance operations, such as greenfield projects, and fund inorganic growth initiatives, such as potential acquisitions.
Karim Meleka, Co-Head of Investment Banking at EFG Hermes, commented:
“We are pleased to have advised Depa PLC on this first-of-its-kind transaction for the Company, which required a bespoke structuring approach and a comprehensive reassessment of Depa’s capital needs. As Financial Advisor and Bookrunner, our work focused on refining the business plan, sizing, and prioritizing the use of proceeds, and structuring a rights issue tailored to Depa’s strategic objectives. This transaction demonstrates our ability to deliver innovative, solution-driven capital raises and to execute seamlessly alongside shareholders and stakeholders across the region.”
This capital raise is a critical step in enabling Depa to capitalize on regional growth opportunities, enhance operational capabilities, and deliver sustainable value creation for its shareholders.
Since the beginning of 2025, EFG Hermes has advised on 8 M&A, 16 DCM, and 18 ECM transactions across the region, including landmark transactions in Saudi Arabia, the UAE, Kuwait, Oman, and Egypt, underscoring its leadership in regional markets.
About EFG Holding
EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a financial institution that boasts a legacy of more than 40 years of success in seven countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) – the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes.
EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a provider of innovative and integrated financial solutions for micro and small business owners and entrepreneurs, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, Bedaya for mortgage finance, Kaf for insurance, and EFG Finance SMEs, which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt.
Note on Forward-Looking Statements
In this press release, EFG Holding may make forward-looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Holding’s belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management’s control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending, and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.
