The Firm is co-hosting the conference with Auerbach Grayson & Company, Inc., a New York-based brokerage firm that specializes in providing global trade execution and exclusive research to global institutional investors.
Designed to match investors with leading regional companies in their respective sectors of interest, the annual Manhattan MENA Conference ¯ the largest ever conference of Middle Eastern and North African companies in the United States ¯ will bring top North American investors face-to-face with senior management from the most interesting listed companies in the Arab world. The conference will also provide an arena for fund managers to meet potential investment targets and for companies to engage directly with shareholders.
“With an average GDP growth rate of 5.0% for 2010-11 and a strengthening investment outlook for Egypt and some of the smaller GCC countries, MENA is among the fastest growing regions in the world today. Much of the growth will be driven by the acute need to upgrade infrastructure and increase utility output,” said Sherif Cararah, Head of Brokerage at EFG Hermes. “At Manhattan MENA we have tried to bring together a diverse group of companies that are poised to take part in this compelling growth story,” he added.
EFG Hermes is the Arab world’s premier investment banking firm and the market leader in securities brokerage, investment banking, asset management, private equity and research. The Firm’s vast regional network, which includes a physical presence in nine countries, gives investors unparalleled access to the high-growth markets of the Arab world. The 25 companies that are attending this year’s Manhattan MENA conference represent eight countries and 16 of the region’s most promising sectors including construction, industrials and automotive, real estate, and banks and financial services. These companies account for an aggregate $80bn of the market capitalization throughout the Arab world.
The companies attending this year’s Manhattan MENA conference are: Agthia, Arab Bank, Attijariwafa Bank, Bank Audi, Bank of Palestine, Burgan Bank, Citadel Capital, CIB, Drake & Scull International, Mobinil, Egyptian Resorts Company, El Sewedy Cables, Ezzsteel, GB Auto, Juhayna, Maridive and Oil Services, OCI, ODH, Oriental Weavers, Paltel, Qtel, SODIC, Solidere, Talaat Mostafa Group and Telecom Egypt.
“The level of interest that we have received from international investors and fund managers at this year’s conference is a clear indication that the MENA region is becoming one of the top destinations for global capital,” Cararah commented. “In response to this strong appetite we have a large number of companies that are being showcased. We hope that we can continue bringing likeminded people together to create new business opportunities into the future,” he added.
EFG Hermes also hosted its third annual Egypt Capital Markets Day at the London Stock Exchange, where Egypt’s top listed companies met one-on-one with global buy-side investors with a demonstrated interest in Egypt’s investment opportunities.
The conference, held from November 1-2, gave attending companies and investors the chance to deepen existing connections while exploring new opportunities for partnership in regional business ventures.
“Egypt Capital Markets Day is a significant event as it allows executives from Egypt’s major companies to connect with top global investors seeking investment opportunities in Egypt,” said Sherif Cararah. “We are very pleased to have been able to bring these businesspeople together as we believe that the joint projects and opportunities have a positive impact on the Egyptian investment climate and overall economy going forward,” Cararah continued.
A total of 13 companies from nine major sectors presented at this year’s conference, while 52 investors were in attendance.
Throughout the two-day conference investors and companies met in successive one-on-one meetings arranged to match potential investors with companies in their area of expertise. Xavier Rolet, Chief Executive of the London Stock Exchange, delivered the welcome speech.
Egyptian companies in attendance at the conference included GB Auto, CIB, Ezz Steel, Orascom Construction Industries, Juhayna, Maridive and Oil Services, El Sewedy Cables, Egyptian Resorts Company, Orascom Development Holding AG, Sixth of October for Development and Investment Company (SODIC), Talaat Mostafa Group, Mobinil, Orascom Telecom Holding and Telecom Egypt.
“Egypt has posted impressive growth figures over the last few years, despite the global financial crisis,” Cararah commented. “Strong domestic growth dynamics will continue to drive Egypt’s economic growth to outperform non-GCC peers. We estimate that GDP growth will accelerate, driven by a strong investment recovery that in turn will support higher consumption levels. Our investor conferences aim to attract some of the capital required to turn these forecasts into reality.”
EFG Hermes holds the MENA Manhattan Conference, the MENA Capital Markets Day and the One-on-One conference annually, and this year’s events build on the success of previous years. In 2009, more than 100 investors from 60 of the largest London-based emerging markets funds met face-to-face at the London Stock Exchange with C-suite executives from 13 major Egyptian companies, while in New York, 65 North American emerging markets investors met with representatives from 23 of the Arab world’s largest companies.
EFG Hermes is the Arab world’s premier investment bank and the market leader in securities brokerage, asset management, investment banking, private equity and research, and the firm’s events seek to bridge the physical and cultural gaps between the region’s leading companies and global financiers.
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