22nd Mar 2021 14:30
Integrated Diagnostics Holdings PLC - consumer healthcare firm with operations in Egypt, Jordan, Sudan and Nigeria - Receives approval from the Egyptian Financial Regulatory Authority for dual listing of shares on the Egyptian Exchange. Notes the technical listing will include a 5% minimum free float and "achieve accelerated admission and access new liquidity pockets with increased trading volumes." Says it in the process of obtaining further remaining regulatory approvals to finalise the listing without any concurrent offering of new shares.
"The FRA's registration approval is an important milestone to bringing home IDH's shares to the EGX, where the company's market capitalisation of over USD600 million will add significant value to the exchange and strengthen its position as a key entry point for the Middle East & North Africa equity and debt capital markets. Following a successful track record as a public company on the London Stock Exchange, a dual listing on the EGX will help us achieve this goal and build a larger pool of geographically diversified shareholders," says Chief Executive Hend El Sherbini.
Current stock price: USD1.02
Year-to-date change: down 7.3%
By Zoe Wickens; [email protected]
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