Shares of Integrated Diagnostics Holding (IDH) are expected to start trading on the Egyptian Exchange (EGX) on May 20th, the company said in a recent statement.
The technical listing is without any concurrent offering of new shares by the Company, the first of its kind on the EGX.
In March, the company received the Egyptian Financial Regulatory Authority’s (FRA) registration approval to proceed with a dual listing on the EGX.
The listing also 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 and traded in Egyptian Pounds and will be complementary to the Company’s USD-denominated shares that are currently listed and traded on the London Stock Exchange (LSE).
The dual listing boasts a fungible structure between the LSE and the EGX whereby shares are easily transferred between the two exchanges through a set share transfer mechanism.
IDH is a leading consumer healthcare company in the Middle East and Africa with operations in Egypt, Jordan, Sudan, and Nigeria. The company has 452 branches and a portfolio of 2,000 diagnostics tests.
