29 August 2016
Egyptian healthcare firm Cleopatra Hospital Company
has picked EFG-Hermes as the financial advisor on a plan to acquire the remaining 47.28 percent shares in Cairo Specialised Hospital.
During the in the second quarter of the year, EFG-Hermes executed a successful initial public offering of Cleopatra Hospital Company on Cairo stock exchange.
EFG-Hermes was sole global coordinator and book runner for Cleopatra Hospital Company's $41 million initial public offering on the Egyptian Exchange, the investment bank's second healthcare IPO in one year.
The transaction's institutional offering was 6.7 times oversubscribed and the retail offering 28.6 times oversubscribed; in total, the transaction was 10.0 times oversubscribed, generating demand in excess of $406 million.
Cleopatra traces its roots back to 1976 and consists of four hospitals: Cleopatra Hospital, Cairo Specialised Hospital with 52.75 percent share, Nile Badrawi Hospital with 99.92 percent, and Al-Shorouk Hospital in greater Cairo with 99.99 percent.