EFG Hermes Completes Advisory on USD 150 Million IPO of Miahona on the Saudi Exchange
تاريخ النشر: 6th, June 2024 GMT
EFG Hermes، an EFG Holding Company and the leading investment bank in the Middle East and North Africa (MENA)، announced today that its investment banking division successfully completed its advisory on the USD 150 million initial public offering (IPO) of Miahona، one of the first developers of water and wastewater infrastructure under the public-private partnership (PPP) in the Kingdom of Saudi Arabia and a leader in water cycle management، on the Saudi Exchange.
Miahona offered a total of 30% of its total issued share capital through the sale of 48،277،663 existing ordinary shares at SAR 11.5 per share، implying a market capitalization of SAR 1.845 billion (USD 498 million).
The IPO captured the attention of local، regional، and international investors، with oversubscription for institutional tranche 174 times. The company began trading today under the ticker [2084].
Mostafa Gad، Global Head of Investment Banking at EFG Hermes، commented، “EFG Hermes is dedicated to introducing promising opportunities to the public market. Our primary focus remains on nurturing and expanding within the KSA market. We especially take great pride in our role as joint financial advisors in this significant transaction in addition to our other roles as joint bookrunners and underwriters. Additionally، we are delighted to strengthen our partnership with esteemed shareholders like Vision Invest، a leading investment company focused on sustainable infrastructure projects in Saudi Arabia and beyond. As the Kingdom emphasizes sustainable development and infrastructure improvement، Miahona's listing on the Saudi Exchange highlights the increasing role of private sector involvement. Our involvement reflects EFG Hermes' dedication to facilitating impactful investment opportunities that not only yield financial returns but also contribute to vital sectors essential for economic growth and societal welfare. Miahona's expertise in water cycle management، combined with its extensive experience in public-private partnerships، positions it as a key contributor to the efficient and sustainable utilization of water resources، crucial for the Kingdom's future prosperity.”
Miahona is a Saudi joint-stock company that was established in 2008. Headquartered in Riyadh، Saudi Arabia، the Company is one of the leaders in water cycle management، operating across the circular water economy، serving municipal and industrial customers. With over 15 years of unique PPP experience، Miahona provides end-to-end solutions in the water sector with a presence across the complete water value chain including water production، water distribution، wastewater collection، wastewater treatment، TSE reuse، billing، collection & customer service.
This transaction is the latest in a series of landmark deals the Firm has advised on in the GCC region over the years، including eight IPOs in 2023 alone. Most recently، it acted as the joint bookrunner on Spinney’s IPO on the Dubai Financial Market (DFM)، and Parkin’s IPO on the DFM – the most oversubscribed IPO on the DFM to date. The Firm also advised on the IPO of Dubai Taxi Company on the DFM and OQ Gas Networks on the Muscat Stock Exchange (MSX)، the largest Omani IPO in over two decades. It also advised on the IPO of ADES Holding Company on the Saudi Exchange، as well as the successful IPOs of ADNOC L&S and ADNOC Gas Plc on the Abu Dhabi Securities Exchange (ADX); IPO of Lumi Rental Company on the Saudi Exchange; Abraj Energy Services on the MSX; and Al Ansari Financial Services PJSC on the Dubai Financial Market (DFM).
المصدر: بوابة الفجر
إقرأ أيضاً:
Zain Jordan Wins Arab CSR & Sustainability Award 2025
صراحة نيوز-
Dubai, October 13th, 2025: Zain Jordan has been awarded the Arab CSR & Sustainability Award 2025 in the Large Business Category, presented by the Arabia CSR & Sustainability Awards. The recognition highlights the company’s remarkable contribution and leadership in driving sustainable development through a balanced focus on economic growth, environmental protection, and community support.
This award further reinforces Zain Jordan’s pioneering position as one of the first national companies to establish a comprehensive sustainability and corporate social responsibility (CSR) strategy. The company has embedded the UN Sustainable Development Goals (SDGs) into its core operations, making sustainability an integral part of its business approach. This commitment is reflected in the many impactful initiatives and partnerships Zain Jordan has launched to support local communities and promote sustainable growth dedicating a portion of its annual profits to CSR initiatives. These collective efforts have earned the company second place in this year’s award.
Zain Jordan’s sustainability vision extends beyond its internal operations to include its partners and suppliers, ensuring their alignment with the company’s ethical and sustainability standards. The company has achieved notable progress in youth and women empowerment, inclusion of people with disabilities, and environmental initiatives aimed at combating climate change and reducing carbon emissions, reflecting its long-term vision of building a more sustainable and inclusive future.
The 18th edition of the Awards was held under the patronage of His Highness Sheikh Eng. Salem Bin Sultan Bin Saqr Al Qasimi, Chairman of the Department of Civil Aviation, Ras Al Khaimah, and Member of the Executive Council of the Government of Ras Al Khaimah. The event brought together prominent leaders, decision-makers, and representatives from leading regional institutions to celebrate organizations that have made sustainability central to their business models.
The Arabia CSR & Sustainability Award is regarded as one of the region’s most prestigious recognitions in governance, sustainability, and social responsibility. It assesses organizations based on international standards of transparency, accountability, and sustainable impact.
It is worth mentioning that Zain Jordan was previously honored with the Al-Hussein Decoration for Distinguished Contribution of the First Class by His Majesty King Abdullah II in recognition of its service to the Kingdom and its contribution to the local community. The company also received the Silver Jubilee Medal from His Majesty for its efforts in advancing Jordan’s telecommunications sector. Most recently, Zain Jordan received the Middle East Excellence Award 2025 for Technological Excellence for its regional data and disaster recovery center, The Bunker, awarded by Asian Business Review magazine in Dubai, UAE.
عاجل |تل أبيب تقرر فتح معبر رفح من الجانب الفلسطيني كما كان مقررا والسماح بنقل المساعدات لغزة