Mubasher: EFG Hermes, an EFG Holding company, has successfully acted as the financial advisor and bookrunner to Depa PLC on its pro rata renounceable rights issue on Nasdaq Dubai.
The key capital-raising transaction supports the company’s strategic growth agenda, according to a press release.
Depa is issuing 2.43 billion new ordinary shares at an offer price of AED 0.27 per share, expecting a raise of approximately AED 658.40 million.
The proceeds will support working capital requirements for subsidiaries, fund initiatives to improve 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.”
Meleka added: “This transaction demonstrates our ability to deliver innovative, solution-driven capital raises and to execute seamlessly alongside shareholders and stakeholders across the region."
This transaction is a key step in enabling Depa to capitalize on regional growth opportunities, enhance operational capabilities, and deliver sustainable value creation for its shareholders.
