EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA) region, successfully concluded its role as a joint global coordinator and joint bookrunner on Action Energy Company K.S.C.C.’s (AEC) private placement and listing on Boursa Kuwait’s Premier Market.
AEC offered 45.9% of its share capital through the sale of 260 million shares, comprising a primary issuance of 94.5 million new shares and a secondary sale of 165.5 million existing shares, priced at KD 212 fils per share.
The transaction raised KD 55 million (USD 179 million), implying a post-money market capitalization of KD 120 million (USD 391 million). The Offering saw strong participation from local, regional, and international investors, with the total book covered over 5 times, drawing about KD 276 million (USD 898 million) in orders.
The Offering was intended to diversify AEC’s shareholder base, strengthen governance, and enhance visibility among key stakeholders, while supporting balance-sheet enhancements and growth initiatives in Kuwait and the wider region.
Action Energy’s shares began trading on Boursa Kuwait’s Premier Market under the ticker “ALF TAQA.”
Established in 2015, Action Energy is a leading Kuwaiti-headquartered oilfield services provider focused on rig and well services that support upstream production and maintenance programs. With a proven operating track record and fleet of 20 active rigs in Kuwait, Action Energy delivers safe, reliable field execution across strategically important oilfields, helping operators maintain production, improve uptime, and deliver projects on schedule. Action Energy operates through two complementary business segments: Drilling Services, supported by a modern, high-utilization rig fleet, and Oilfield Services, which provides end-to-end well-lifecycle support through a combination of in-house capabilities and strategic technical partners.
Karim Meleka, Co-Head of Investment Banking at EFG Hermes, commented, “We are excited to support Action Energy Company in its journey to broaden its ownership base and accelerate its growth through a well-structured private placement and a dual primary/secondary offering. This transaction underscores Kuwait’s growing appeal to sophisticated investors and highlights the crucial role of strong governance and disciplined capital allocation in unlocking long-term value. EFG Hermes is committed to facilitating a transparent, orderly process that provides clear opportunities for investors while reinforcing Kuwait’s strategic energy services sector.”
Karim Galal, Managing Director, Investment Banking at EFG Hermes, said, “Kuwait is increasingly re-establishing itself as a credible and attractive listing venue, underpinned by improving liquidity, strong institutional participation, and a maturing capital markets framework. Action Energy offers investors a rare opportunity to gain scaled exposure to the growth of Kuwait’s energy sector through a well-positioned platform with a clear execution track record. EFG Hermes is proud to support this transaction and remains fully committed to the Kuwait market by delivering disciplined and transparent capital market solutions that connect high-quality local champions with regional and international investors.”
From a broader perspective, year-to-date, EFG Hermes has advised on 16 equity capital market (ECM) transactions, 14 debt capital market (DCM) transactions, and 8 M&A transactions across the region, with notable engagements in Saudi Arabia, the UAE, Oman, and Egypt. These activities highlight the firm’s leadership in regional capital markets and its ongoing role in connecting regional and international investors with strategic opportunities.
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.
