8:18 am - February 16, 2026
Dubai: The 19th EFG Hermes Annual One-on-One Investor Conference showcased soaring IPO activity, infrastructure deals, and private capital growth in MENA. With strong investor appetite focused on the UAE and Saudi Arabia, sustained momentum in sectors aligned with regional transformation agendas marks robust economic resilience despite global volatility.
The 19th EFG Hermes Annual One-on-One Investor Conference recently concluded in Dubai, themed “MENA Investment Playbook.” The conference brought together an impressive assemblage of 220 companies from 12 countries and 675 institutional investors and fund managers, representing 252 global institutions. Over 15,000 meetings took place, reiterating the platform’s significant role as the largest investment forum in the region. This event showcased a prime opportunity to examine the diverse investment strategies shaping the Middle East and North Africa, particularly in light of regional economic shifts and challenges.
Karim Meleka, Co-Head of Investment Banking at EFG Hermes, reflected on the overall sentiment at the conference, describing it as “very constructive.” There appears to be a robust appetite from investors to explore MENA opportunities, especially within the UAE and Saudi Arabia. Meleka noted that investment banking is witnessing sustained momentum in initial public offerings (IPOs), particularly in sectors that align with national transformation agendas such as infrastructure, logistics, fintech, and consumer goods. These observations suggest that the region remains a bright spot even amid global economic volatility, as evidenced by recent successful IPOs, including the highly oversubscribed $375 million listing of Spinneys on the Dubai Financial Market and the $163 million IPO of Alpha Data on the Abu Dhabi Securities Exchange.
Several key trends are fueling deal activities across MENA, as indicated by Meleka. Government-led privatisation initiatives in Gulf Cooperation Council (GCC) countries continue to cultivate a healthy IPO pipeline. Furthermore, there is a clear emphasis on infrastructure and sustainability-linked investments, resonating with the MENA region’s long-term strategic objectives. Cross-border mergers and acquisitions (M&A) are also gaining traction, with regional champions eager to expand beyond their domestic markets, highlighting a shift towards greater intra-regional collaboration. Additionally, an influx of private capital is increasingly filling financing gaps in underserved sectors, showcasing the resilience of investor confidence in MENA markets.
In light of the current global macroeconomic uncertainty, EFG Hermes is enhancing its investment banking strategy by focusing on sectors with strong fundamentals and sustainable growth prospects. Meleka emphasised the importance of staying agile, closely aligning with economic reform agendas in key markets such as the UAE and Saudi Arabia. The firm’s advisory expertise is also aimed at helping clients navigate through these volatile environments, optimising capital structures, preparing for IPOs, and identifying strategic partners. This commitment to local engagement and strong relationships has proven essential for success in the current landscape.
Infrastructure investment remains a critical component of EFG Hermes’ deal pipeline. Meleka underscored the significance of infrastructure not only in traditional domains like roads and ports but also in digital infrastructure and renewable energy. Governments are increasingly collaborating with the private sector to expedite project delivery, unlocking substantial opportunities within this space. EFG Hermes is actively advising on several major infrastructure transactions, including partnerships with international players seeking long-term, stable assets in the region.
As the conversation turned toward the future, expectations are rising for the UAE and Saudi Arabia to lead the MENA IPO market in 2023. The firm anticipates a strong flow of sectoral IPOs launching throughout the year, hinting at the ongoing dynamism and potential for growth in this pivotal region. The success of recent offerings, combined with robust institutional interest, positions MENA as a vibrant market ripe for investment and innovation.
By maintaining an adaptive approach and fostering strategic partnerships, EFG Hermes stands poised to navigate the intricate landscape of MENA investments, helping shape a new era of economic opportunity and resilience within the region.
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Source: Noah Wire Services
- https://gulfbusiness.com/efg-hermes-karim-meleka-on-mena-investment-trends/ – Please view link – unable to able to access data
- https://www.efghldg.com/en/media/news/efghermesxspinneysipo – EFG Hermes advised on Spinneys’ $375 million IPO on the Dubai Financial Market (DFM). The offering was significantly oversubscribed, with Spinneys operating 75 premium grocery retail supermarkets in the UAE and Oman. The IPO attracted strong investor interest, reflecting confidence in the UAE’s capital markets. Karim Meleka, Co-Head of Investment Banking at EFG Hermes, highlighted the milestone’s significance for the UAE’s financial landscape and the firm’s role in navigating complex transactions. The company began trading under the ticker SPINNEYS.
- https://ar22.efghldg.com/strategic-direction.html – EFG Hermes’ 2022 Annual Report outlines the firm’s strategic direction, emphasizing growth in the Investment Banking division with operating revenues of EGP 11 billion, a 77% year-on-year increase. The division advised on 32 transactions across M&A, ECM, and DCM, totaling over USD 14.3 billion. Notable IPOs include Taaleem’s USD 204 million listing on the Dubai Financial Market and Dubai Electricity and Water Authority’s USD 6.1 billion IPO, the largest in the Middle East since 2019. The report also highlights the Research division’s expansion, covering 338 stocks in 25 countries.
- https://efghldg.com/en/media/news/AlphaDataIPO – EFG Hermes advised on Alpha Data’s USD 163 million IPO on the Abu Dhabi Securities Exchange (ADX). The offering was oversubscribed, with Alpha Data, a leading digital transformation provider in the UAE, offering 40% of its share capital. The IPO attracted local, regional, and international investors, reflecting confidence in Abu Dhabi’s market. Karim Meleka, Co-Head of Investment Banking at EFG Hermes, emphasized the growing investor appetite for tech-driven businesses in the region and Abu Dhabi’s role as a hub for innovative companies.
- https://www2.efg-hermes.com/en/media/news/EFGHermesxMiahonaIPO – EFG Hermes advised on Miahona’s USD 150 million IPO on the Saudi Exchange. Miahona, a developer of water and wastewater infrastructure under public-private partnerships in Saudi Arabia, offered 30% of its share capital. The IPO was oversubscribed, with institutional demand 174 times the offering size. The listing underscores the increasing role of private sector involvement in Saudi Arabia’s infrastructure development. Mostafa Gad, Global Head of Investment Banking at EFG Hermes, highlighted the firm’s dedication to facilitating impactful investment opportunities in vital sectors.
- https://www.wam.ae/en/details/1395303136040 – EFG Hermes Holding announced expectations for the UAE and Saudi Arabia to lead the IPO markets in the Middle East and North Africa (MENA) in 2023. Karim Awad, Group CEO of EFG Hermes Holding, noted strong momentum in MENA IPO markets, particularly in GCC countries. The firm is working on five diverse sectoral IPOs in the GCC market, set to launch between the second and fourth quarters of the year. The announcement was made during the 17th EFG Hermes One-on-One Conference in Dubai.
- https://www.arabianbusiness.com/markets/uae-and-saudi-arabia-to-lead-2023-mena-ipo-market-efg-hermes-784013.html – EFG Hermes analysts predict that the UAE and Saudi Arabia will lead the IPO markets in the MENA region in 2023. Karim Awad, Group CEO of EFG Hermes Holding, highlighted strong momentum in MENA IPO markets, especially in GCC countries. The firm is working on five diverse sectoral IPOs in the GCC market, set to launch between the second and fourth quarters of the year. The announcement was made during the 17th EFG Hermes One-on-One Conference in Dubai.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
10
Notes:
The narrative is current, dated May 23, 2025, and discusses recent developments from the 19th EFG Hermes Annual One-on-One Investor Conference held in Dubai from April 7 to 10, 2025. ([gulfnews.com](https://gulfnews.com/gn-focus/efg-hermes-kicks-off-19th-annual-one-on-one-investor-conference-mena-investment-playbook-1.500087770?utm_source=openai))
Quotes check
Score:
9
Notes:
The direct quotes attributed to Karim Meleka are unique to this report, with no exact matches found in earlier publications. This suggests original content, though similar themes have been discussed in previous conferences.
Source reliability
Score:
8
Notes:
The narrative originates from Gulf Business, a reputable business news outlet in the MENA region. However, the absence of direct quotes from Meleka in other reputable sources raises some questions about the exclusivity of the content.
Plausability check
Score:
9
Notes:
The claims about IPO momentum and infrastructure investment trends align with known regional economic strategies and recent market activities. The focus on sectors like infrastructure, logistics, fintech, and consumer goods is consistent with national transformation agendas in the UAE and Saudi Arabia.
Overall assessment
Verdict (FAIL, OPEN, PASS): OPEN
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
While the narrative is current and presents plausible claims consistent with regional economic strategies, the lack of direct quotes from Karim Meleka in other reputable sources and the absence of direct quotes from Meleka in other reputable sources raise questions about the exclusivity and originality of the content. Further verification is recommended to confirm the authenticity and originality of the direct quotes attributed to Meleka.
