23 Mar 2021

Integrated Diagnostics Holdings (IDHC.L), which is currently listed on the LSE (London Stock Exchange), has received approval from the FRA (Financial Regulatory Authority) for its plan to have a dual listing of the company’s shares on both the LSE and the EGX (Egyptian Stock Exchange). The listing is expected to be completed during 1H21, and the shares will be denominated in EGP. The listing on the EGX will not involve the issuance of new shares. The listing will be technical of nature, and is the first of its kind on the EGX.

IDHC is a leading consumer healthcare company that owns and operates the al-Borg and al-Mokhtabar medical diagnostics labs network in Egypt, and also has operations in Jordan, Nigeria, and Sudan. It was the first Egyptian company to list on the LSE, back in 2015. The company has a market capitalization of over USD600mn.

IDHC stated that “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 IDHC's shares and capitalise on the company's strong growth prospects in the fast-growing Egyptian and regional healthcare sectors.” This will allow IDHC to “build a larger pool of geographically diversified shareholders,” the company said. (Source: Company Disclosure, al-Mal Newspaper, al-Arabia News, Arab Finance Website)