Nasdaq Dubai witnesses the issuance of subscription rights amounting to 658 million dirhams to “Depa”

EFG Hermes, the investment bank affiliated with EFG Holding Group, announced today that it has succeeded in acting as the financial advisor and issue promoter for Depa PLC to complete a transferable rights issue deal with the aim of increasing capital and supporting the company’s strategic growth plans.

Under this deal, Depa, a global group in the field of interior decoration solutions listed on the Nasdaq Dubai Stock Exchange, will issue 2,438,518,519 new ordinary shares at an offering price of AED 0.27 per share. This issuance is expected to generate total revenues for the company of approximately 658.4 million dirhams.
The capital increase is a pivotal step that enables Depa to benefit from growth opportunities in the region, enhance its operational capabilities, and achieve sustainable value for its shareholders. The proceeds from the capital increase will be used to support the working capital requirements of subsidiaries, and to finance initiatives aimed at enhancing operations such as new development projects, as well as growth initiatives through acquisition deals.

Karim Malika, co-head of the promotion and underwriting sector at EFG Hermes, expressed his pleasure in providing advisory services for the deal, which is considered the first of its kind for Depa PLC. This transaction required a tailored approach to structuring and a comprehensive assessment of the company’s capital needs. Malika also referred to the role played by EFG Hermes as financial advisor and promoter of the issue, which included improving the business plan, determining the size and prioritization of the use of proceeds, in addition to structuring the rights issue in accordance with Depa’s strategic objectives.