EFG Hermes, the premier investment banking institution within EFG Holding, has once again clinched the foremost position in London Stock Exchange Group’s (LSEG) MENA equity capital markets (ECM) bookrunner rankings for 2025. This achievement marks the second consecutive year the financial powerhouse has dominated the regional league tables, reinforcing its commanding presence across Middle Eastern and North African capital markets.
LSEG’s comprehensive assessment methodology evaluates financial institutions based on two critical parameters: total capital proceeds raised throughout the assessment period and the aggregate number of successfully completed transactions. EFG Hermes demonstrated exceptional performance across both metrics during the 2025 review cycle.
The investment bank’s transaction volume reached unprecedented levels with 12 completed ECM operations—precisely double the deal count of the second-ranked institution. These transactions spanned multiple regional exchanges including Tadawul, Nomu, Abu Dhabi Securities Exchange, Dubai Financial Market, Nasdaq Dubai, Muscat Stock Exchange, Bourse Kuwait, and the Egyptian Exchange.
Mostafa Gad, Global Head of Investment Banking at EFG Hermes, emphasized that this industry recognition reflects the firm’s expanding regional footprint and enduring client relationships. “Our continued focus remains on executing sophisticated transactions that simultaneously advance client objectives while contributing to the broader development of MENA capital markets,” Gad stated, highlighting the institution’s unique capacity to navigate diverse regulatory environments.
EFG Hermes established itself as the sole investment bank to execute ECM transactions across five key markets—Saudi Arabia, the UAE, Oman, Kuwait, and Egypt—during the assessment period. Beyond equity markets, the firm advised on 42 regional transactions encompassing 18 ECM deals, 16 debt capital market operations, and 8 mergers and acquisitions.
The bank’s expertise extended across various ECM structures including initial public offerings, accelerated bookbuilds, and rights issues. Notable 2025 transactions included serving as sole financial advisor for the Jamjoom IPO in Saudi Arabia and joint global coordinator for the ADNOC Gas secondary offering—the largest placement in ADX history.
Christopher Laing, Head of ECM at EFG Hermes Investment Banking, attributed the firm’s outstanding performance to its comprehensive research coverage and unparalleled access to institutional and family office investors throughout the region. The institution has maintained its position as the top trader on the Dubai Financial Market for eight consecutive years.
This latest industry recognition solidifies EFG Hermes’ status as the preeminent equity capital markets facilitator in the MENA region amid sustained issuance activity across developing capital markets.