EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA) region, announced today that it has successfully acted as the Financial Advisor and Bookrunner to Depa PLC (“Depa”) on its pro rata renounceable rights issue, a key capital-raising transaction supporting the company’s strategic growth agenda.
Depa, a global interior solutions group listed on Nasdaq Dubai, is issuing 2,438,518,519 new Ordinary Shares at an offer price of AED 0.27 per share. This represents a total expected raise of approximately AED 658.4 million.
Proceeds from the capital raise will be used to support working capital requirements for subsidiaries, fund initiatives to enhance operations, such as greenfield projects, and fund inorganic growth initiatives, such as potential acquisitions.
Karim Meleka, Co-Head of Investment Banking at EFG Hermes, commented:
“We are pleased to have advised Depa PLC on this first-of-its-kind transaction for the Company, which required a bespoke structuring approach and a comprehensive reassessment of Depa’s capital needs. As Financial Advisor and Bookrunner, our work focused on refining the business plan, sizing, and prioritizing the use of proceeds, and structuring a rights issue tailored to Depa’s strategic objectives. This transaction demonstrates our ability to deliver innovative, solution-driven capital raises and to execute seamlessly alongside shareholders and stakeholders across the region.”
This capital raise is a critical step in enabling Depa to capitalize on regional growth opportunities, enhance operational capabilities, and deliver sustainable value creation for its shareholders.
Since the beginning of 2025, EFG Hermes has advised on 8 M&A, 16 DCM, and 18 ECM transactions across the region, including landmark transactions in Saudi Arabia, the UAE, Kuwait, Oman, and Egypt, underscoring its leadership in regional markets.
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