Hermes, Renaissance to execute IDH dual listing in Q1

The dual listing will help IDH to improve its liquidity and enhance trading volumes

  
Traders work at the Egyptian stock exchange in Cairo.

Traders work at the Egyptian stock exchange in Cairo.

REUTERS/Mohamed Abd El Ghany

ArabFinance: London-listed Integrated Diagnostics Holdings (IDH), which owns the Al Borg and Al Mokhtabar brands in Egypt, plans to go for a dual listing on the Egyptian Exchange in February, Al Mal News reported.

The dual listing will help IDH to improve its liquidity and enhance trading volumes.

The company has submitted its paperwork to the Financial Regulatory Authority (FRA).

Earlier, the company revealed its intention to offer at least 5% of its shares on the Egyptian Exchange to retail and institutional investors, meeting free float requirements on the exchange.

EFG Hermes and Renaissance Capital are managing the transaction, while White & Case, Clifford Chance and Ogier are counsel

In 2015, EFG Hermes concluded advisory on IDH’s initial public offering (IPO) on the London Stock Exchange (LSE), offering 43.5% of the company.

IDH has a strong presence in Jordan, Sudan, and Nigeria, with a total of 468 branches. The Company aims to be a leading healthcare provider in every community and region that it serves, becoming every doctor and patient’s first choice for quality, accurate diagnostic testing and cost effective services.

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