EFG Hermes Advises on Alf Taqqa Energy’s Private Placement and Listing on Boursa Kuwait
EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa, announced today that its Investment Banking division has successfully completed advisory services as Joint Global Coordinator and Joint Bookrunner for the private placement of Alf Taqqa Energy Company K.S.C.C. and the company’s listing on the Premier Market of Boursa Kuwait.
As part of the transaction, Alf Taqqa Energy offered 45.9 percent of its issued share capital through the sale of 260 million shares. The offering comprised a primary issuance of 94.5 million new shares and a secondary sale of 165.5 million existing shares, at a price of KWD 0.212 per share.
The transaction raised total proceeds of KWD 55 million (USD 179 million), implying a post-listing market capitalization of approximately KWD 120 million (USD 391 million). The offering witnessed strong demand from local, regional, and international investors, with the order book oversubscribed by more than five times, attracting total demand of around KWD 276 million (USD 898 million).
The private placement aimed to diversify Alf Taqqa Energy’s shareholder base, enhance corporate governance, and increase the company’s visibility within the investment community, while supporting balance sheet optimization and growth initiatives in Kuwait and the wider region. Trading of Alf Taqqa Energy shares commenced on the Premier Market of Boursa Kuwait under the ticker symbol “ALF TAQA”.
Founded in 2015, Alf Taqqa Energy is a leading Kuwaiti oil well drilling contractor headquartered in Kuwait. The company focuses on drilling and well services that support production and maintenance programs across the exploration and production sector. Leveraging a strong operational track record and a fleet of 20 active drilling rigs operating in Kuwait, the company delivers safe and reliable field services across strategic oil fields, helping operators sustain production, improve uptime, and deliver projects on schedule.
Alf Taqqa Energy operates through two integrated business segments: drilling services, supported by a modern fleet of high-utilization rigs, and oilfield services, which provide comprehensive support across the well lifecycle through a combination of in-house capabilities and partnerships with leading technical service providers.
Commenting on the transaction, Karim Milika, Co-Head of Investment Banking at EFG Hermes, said that the firm is pleased to support Alf Taqqa Energy’s journey and its efforts to expand its client base and accelerate growth plans through the private placement, encompassing both primary and secondary components. He noted that the transaction reflects growing investor confidence in Boursa Kuwait, as well as the commitment of regulatory authorities to best-in-class governance standards and disciplined capital deployment, which together create long-term value. Milika also reaffirmed EFG Hermes’ commitment to ensuring transparency and robust execution throughout the transaction, facilitating clear investment opportunities and supporting strategic sectors in the Kuwaiti market, including energy services.
In the same context, Karim Galal, Executive Director at EFG Hermes Investment Banking, stated that Kuwait is increasingly reinforcing its position as a credible and attractive destination for capital markets listings, supported by improved liquidity, strong institutional participation, and a more advanced capital markets framework. He added that Alf Taqqa Energy offers investors a compelling opportunity to gain exposure to Kuwait’s growing energy sector, noting EFG Hermes’ pride in supporting the transaction and its ongoing commitment to delivering structured and transparent capital markets solutions that connect high-quality local companies with regional and international investors.
In 2025, EFG Hermes successfully provided advisory services on a wide range of transactions across the region, including 16 capital markets transactions, 14 debt arrangement and issuance deals, and eight mergers and acquisitions, spanning key markets such as Saudi Arabia, the UAE, Oman, and Egypt. These transactions underscore the firm’s leading position in regional markets and its proven ability to connect regional and global investors with attractive strategic investment opportunities.