Cairo – Mubasher: EFG Hermes has topped investment banks in the Middle East and North Africa (MENA) in terms of equity capital market (ECM) underwriting fees, with a 24.4% market share during the second quarter of 2018.
Meanwhile, JP Morgan and The Goldman Sachs Group were ranked the second and third in the list, respectively.
ECM underwriting fees in the region rose by 21% to register $56.4 million, according to a report by Thompson Reuters.
Orange Egypt’s capital increase deal was the largest in the region in Q2-18, through allocating $866 million in capital, the report indicated.
Total equity and equity-related issuance in the region rose by 68% year-on-year in Q2-18 to $3 billion, data showed.
The value of announced merger and acquisition transactions in the MENA region climbed 74% year-on-year to $33.9 billion in Q2-18, the highest record in eight years.
MENA-targeted deals hit an all-time high, rising by 110% year-on-year to $21.3 billion in Q2-18, the report noted.
