Information  X 
Enter a valid email address

Integrated Diag Hdgs (IDHC)

  Print   

Wednesday 05 May, 2021

Integrated Diag Hdgs

IDH EGX Dual Listing Approval

RNS Number : 6251X
Integrated Diagnostics Holdings PLC
05 May 2021
 

IDH receives approval from the Egyptian Exchange for the dual listing of its ordinary shares

 

Trading on the EGP-denominated shares will be under the ticker code IDHC.CA, with listing being complementary to the trading of IDH's shares on the London Stock Exchange

 

5 May 2021

 

(Cairo and London) - Integrated Diagnostics Holdings ("IDH," "the Company" or "the Group," IDHC on the London Stock Exchange), a leading consumer healthcare company with operations in Egypt, Jordan, Sudan, and Nigeria, announces that it has received approval from the Egyptian Exchange ("the EGX") listing committee for the dual listing of the Company's ordinary shares on the EGX's main market under the EGX ticker code IDHC.CA and ISIN code EGS99021C015.

 

With the EGX's approval, IDH has now completed the regulatory requirements necessary for the Company's listing on the EGX. Further, the Company will obtain approval from the Egyptian Financial Regulatory Authority ("FRA") to proceed with publication of the local disclosure form in connection with the listing and trading on the EGX, as required prior to commencement of trading on the EGX. Further details to follow upon the receipt of the final FRA approval.

 

The technical listing is without any concurrent offering of new shares by the Company, the first of its kind on the EGX, and meets the regulatory requirements of the EGX listing and delisting rules, including a 5% minimum free float (equivalent to 30,000,000 shares) on the exchange. The EGX-listed shares will be denominated in Egyptian Pounds ("EGP"). The listing is complementary to the Company's USD-denominated shares that are currently listed and traded on the LSE.

 

EFG Hermes and Renaissance Capital are advising the Company in connection with the dual listing. Clifford Chance (as to English and US law), Ogier (as to Jersey law) and White & Case (as to Egyptian law) are acting as legal counsel to the Company.

 

 

-Ends-



 

About Integrated Diagnostics Holdings (IDH)

IDH is a leading consumer healthcare company in the Middle East and Africa with operations in Egypt, Jordan, Sudan and Nigeria. The Group's core brands include Al Borg, Al Borg Scan and Al Mokhtabar in Egypt, as well as Biolab (Jordan), Ultralab and Al Mokhtabar Sudan (both in Sudan) and Echo-Lab (Nigeria). A long track record for quality and safety has earned the Company a trusted reputation, as well as internationally recognised accreditations for its portfolio of over 2,000 diagnostics tests. From its base of 471 branches as of 30 September 2020, IDH will continue to add laboratories through a Hub, Spoke and Spike business model that provides a scalable platform for efficient expansion. Beyond organic growth, the Group's expansion plans include acquisitions in new Middle Eastern and African markets where its model is well-suited to capitalise on similar healthcare and consumer trends and capture a significant share of fragmented markets. IDH has been a Jersey-registered entity with a Standard Listing on the Main Market of the London Stock Exchange (ticker: IDHC) since May 2015. Learn more at idhcorp.com .

 

The person responsible for arranging the release of this announcement is Nancy Fahmy, Investor Relations Director at IDH.

 

Contact

Nancy Fahmy

Investor Relations Director

T: +20 (0)2 3345 5530 | M: +20 (0)12 2255 7445 | [email protected]

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCAAMLTMTBMMLB

a d v e r t i s e m e n t