Al Borg-Al Mokhtabar Merged Entity To List On EGX Within 1 Year

Integrated Diagnostics Holding, a medical labs company to be formed by the merger of Al Borg Laboratories and Al Mokhtabar Laboratories, is planning an initial public offering (IPO) on the Egyptian Exchange (EGX) within a year, according to an Al Borg board member.

Gulf News website quoted Ahmad Badreldin, Vice Chairman of Al Borg and a senior partner at Dubai-based private equity firm Abraaj Capital, as saying that the IPO would give investors access to a fast-growing industry in emerging markets across the region.

According to the top official, the merger would result in higher profits and more cash to invest in acquisitions and expansion.

Al Mokhtabar currently has a presence in Egypt, Sudan and Saudi Arabia, while Al Borg has central laboratories in Cairo, Amman and Khartoum.

Mubasher