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IDH receives FRA approval for listing on EGX

IDH receives FRA approval for listing on EGX

ArabFinance: Integrated Diagnostics Holdings (IDH) received on March 22nd the Egyptian Financial Regulatory Authority’s (FRA) registration approval to proceed with a dual listing on the Egyptian Exchange (EGX), according to an emailed press release.

The listing is complementary to IDH’s trading on the London Stock Exchange and is expected to increase the group’s visibility in Egypt.

IDH generates the majority of its business in the Arab republic, which will allow local investors to easily trade its shares.

The healthcare services provider will pursue a technical listing on the EGX without any concurrent offering of new shares by IDH, aiming to achieve accelerated admission and access new liquidity pockets with increased trading volumes.

Further remaining regulatory approvals are still needed to finalize the listing and commence trading on the EGX.

EFG Hermes and Renaissance Capital are advising IDH in connection with the dual listing.

Listing IDH’s shares on EGX is expected to be completed during the first half of 2021 subject to receipt of regulatory approvals. However, sources earlier said the listing would take place in February or before the end of March.

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