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Arab Finance: EFG Hermes has acted as the financial advisor and bookrunner on Depa PLC's pro rata renounceable rights issue, a capital-raising transaction supporting the company’s growth plans, as per an emailed press release.
The transaction includes the issuance of nearly 2.438 billion new ordinary shares at an offer price of AED 0.27 per share, with total expected proceeds of approximately AED 658.4 million.
Depa is a global interior solutions group listed on Nasdaq Dubai.
Proceeds from the rights issue will be used to support working capital requirements for subsidiaries, fund operational initiatives such as greenfield projects, and support inorganic growth plans, including potential acquisitions.
The capital raise is intended to support Depa’s efforts to pursue regional growth opportunities, strengthen its operational capabilities, and support long-term value creation for shareholders.
"This transaction demonstrates our ability to deliver innovative, solution-driven capital raises and to execute seamlessly alongside shareholders and stakeholders across the region," Karim Meleka, Co-Head of Investment Banking at EFG Hermes, said.
