{"id":321602,"date":"2021-03-23T11:34:38","date_gmt":"2021-03-23T11:34:38","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=321602"},"modified":"2021-03-23T11:37:15","modified_gmt":"2021-03-23T11:37:15","slug":"middle-easts-integrated-diagnostics-holdings-gets-approval-for-dual-listing-on-egx","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/03\/23\/middle-easts-integrated-diagnostics-holdings-gets-approval-for-dual-listing-on-egx\/","title":{"rendered":"Middle East’s Integrated Diagnostics Holdings gets approval for dual listing on EGX"},"content":{"rendered":"

Integrated Diagnostics Holdings (IDH), a healthcare diagnostics service provider with operations in Egypt, Jordan, and Sudan, has on Monday received Egyptian regulatory approvals to start dual listing on the country\u2019s stock exchange (EGX).<\/p>\n

The listing IDH believes is complementary to its current trading on the London Stock Exchange (LSE), and is expected to increase IDH’s visibility in Egypt where the Company generates the majority of its business, the company said in a statement<\/a>. It is also expected to allow local investors to easily trade IDH’s shares and capitalise on the Company’s strong growth prospects.<\/p>\n

IDH added that it would pursue a technical listing on the EGX without any concurrent offering of new shares by the company as an efficient path to achieve accelerated admission and access new liquidity pockets with increased trading volumes.<\/p>\n

The technical listing, the first of its kind on the EGX, will see IDH meet the regulatory requirements of the EGX listing and delisting rules, including a 5 percent minimum free float on the Egyptian bourse.<\/p>\n

EFG Hermes and Renaissance Capital are advising on IDH\u2019s dual listing. Clifford Chance (as to the British and U.S. laws), Ogier (as to Jersey law) and White & Case (as to Egyptian law) are acting as legal counsel to the IDH.<\/p>\n

IDH’s listing on the EGX is expected to be completed during the first half of 2021 subject to receipt of regulatory approvals, IDH said in a statement, adding that \u201cthe company will announce further details as regards the commencement of trading in due course.\u201d<\/p>\n

IDH has received the Egyptian Financial Regulatory Authority\u2019s (FRA) registration approval on 22 March as a preliminary step for its listing and trading on the EGX. The company is in the process of obtaining further remaining regulatory approvals to finalise the listing and commence trading on the EGX.<\/p>\n

The listing will give Egypt-based and regional investors as well as global emerging markets specialists, who are sometimes unable to access shares traded on the LSE, the opportunity to trade IDH’s shares and capitalise on the company’s strong growth prospects in the fast-growing Egyptian and regional healthcare sectors.<\/p>\n

The dual listing will see IDH’s ordinary shares admitted to and traded in a fungible manner between the two exchanges with trading on the EGX to be denominated in Egyptian pounds.<\/p>\n

\"\"
Integrated Diagnostics Holdings (IDH) CEO Hend El Sherbini<\/figcaption><\/figure>\n

“The FRA’s registration approval is an important milestone to bringing home IDH’s shares to the EGX, where the company’s market capitalisation of over $600 million will add significant value to the exchange and strengthen its position as a key entry point for MENA equity and debt capital markets.\u201d CEO Hend El Sherbini said.<\/p>\n

“From the time of our IPO in 2015, our goal was to offer this unique value proposition to the widest investor base possible. Following a successful track record as a public company on the LSE, a dual listing on the EGX will help us achieve this goal and build a larger pool of geographically diversified shareholders.\u201d<\/p>\n

\u201cWe look forward to a speedy admission in the weeks ahead and a kick-off of trading with increased future participation from local retail and institutional investors. IDH will remain fully committed to meeting the high standards of disclosure expected of companies listed in Egypt, as well as in London.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Integrated Diagnostics Holdings (IDH), a healthcare diagnostics service provider with operations in Egypt, Jordan, and Sudan, has on Monday received Egyptian regulatory approvals to start dual listing on the country\u2019s stock exchange (EGX).<\/p>\n","protected":false},"author":4,"featured_media":321603,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23],"tags":[127],"class_list":["post-321602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-markets","tag-egx"],"yoast_head":"\nMiddle East's Integrated Diagnostics Holdings gets approval for dual listing on EGX - egy-africa<\/title>\n<meta name=\"description\" content=\"EGXIntegrated Diagnostics Holdings (IDH), a healthcare diagnostics service provider with operations in Egypt, Jordan, and Sudan, has on Monday received Egyptian regulatory approvals to start dual listing on the country\u2019s stock exchange (EGX).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2021\/03\/23\/middle-easts-integrated-diagnostics-holdings-gets-approval-for-dual-listing-on-egx\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Middle East's Integrated Diagnostics Holdings gets approval for dual listing on EGX - 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