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