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Healthcare, Pharma & Life Sciences IPOs United Arab Emirates

Burjeel Holdings opens subscription period for IPO in UAE 

Burjeel Holdings has announced the offer price range and the opening of the subscription period for its Initial Public Offering (IPO) on the Abu Dhabi Securities Exchange (ADX).  The opening of the subscription period for the Offering commences 30th September 2022 and will continue until Tuesday 4th October 2022 for the First Tranche (offering to individual […]

Deal & transactions News United Arab Emirates

ADQ and OIA identify investment opportunities worth AED 30 billion

ADQ, an Abu Dhabi-based investment and holding company, discussed a range of investment opportunities with Oman Investment Authority (“OIA”), across a variety of sectors aimed at contributing to increased economic cooperation and trade between both nations. This comes on the sidelines of the President of the UAE’s visit to Oman.  ADQ and OIA recently entered into […]

Capital Markets Egypt Industrial

TCI Sanmar completes Egypt’s first Bonds Issuance via Debt Conversion

TCI Sanmar Chemicals (“TCI Sanmar”) has successfully completed the private placement of the company’s Non-Convertible Debentures (“NCDs”) to nine foreign banks through the conversion of 15% of the total debt of TCI Sanmar into a number of 2,353,967 NCDs amounting to USD 117,698,350.  Arab African International Bank (“AAIB”) was also involved in the transaction as […]

Banking & Finance Capital Markets Egypt

Contact Financial Holding closes EGP 2bn Sukuk Issuance

Alieldean Weshahi & Partners acted as legal advisor for Contact Financial Holding, a non-bank financial service provider in Egypt, on the closing of an EGP 2 billion (approx. USD 102.5) sukuk issuance, following Financial Regulatory Authority (“FRA”) approval.   The proceeds of the sharia-compliant seven-year tenor mudaraba sukuk will be used to finance the purchase […]

Banking & Finance Capital Markets Egypt

Dreny & Partners: Efg Hermes completes securitization transaction 

Efg Hermes Corp Solutions has successful completed the second securitization transaction amounting to EGP 2 billion, from a multi-issuances program amounting to EGP 3 billion.  The issuance was comprised of three tranches, where the first tranche is valued at EGP 260 million, and the second at EGP 890 million, while the third at EGP 850 […]

Deal & transactions Oil & Gas United Arab Emirates

Adnoc Drilling acquires two Premium Jack-Up Rigs for USD140m  

Adnoc Drilling Company has signed a Sale and Purchase Agreement (“SPA”) to acquire an additional two premium offshore jack-up drilling units (the “rigs”) for USD140 million to meet Adnoc’s plan to raise and sustain production capacity.  The acquisition, which underpins the company’s accelerated fleet expansion and enterprising growth, is the fourth confirmed in recent months. […]

Deal & transactions Transport United Arab Emirates

UAE’s Etihad Rail signs four MoUs during Innotrans

UAE’s national railway network Etihad Rail has entered into four memorandum of understandings (MoUs) with SNCF International, Alstom, Thales Group and Progress Rail at the InnoTrans exhibition in Berlin, Germany.  The agreements come as part of Etihad Rail’s determination to develop technologies that support achieving smart and sustainable mobility.  The MoUs will help to further advance the […]

Deal & transactions Transport United Arab Emirates

Air Arabia launches new airlines with Sudan’s Dal Group  

United Arab Emirates-listed carrier Air Arabia and Sudanese conglomerate DAL Group have partnered to launch a new airline based in Sudan’s Khartoum International Airport.  Air Arabia Sudan will be a joint venture between the two companies. No details were provided regarding the ownership structure.  The Khartoum-based start-up will operate a fleet of new Airbus A320 aircraft and […]

Deal & transactions Oil & Gas Saudi Arabia United Arab Emirates

TAQA acquires Al Mansoori Petroleum Services. The advisors 

Industrialization and Energy Services Company (“TAQA”) and the shareholders of Al Mansoori Petroleum Services LLC (“AMPS”) have announced today that they have entered into a definitive agreement for TAQA to acquire 100% of AMPS, expanding TAQA’s Well Services business from Saudi Arabia to the wider Middle East and North Africa (“MENA”) region.   The transaction […]