Egypt’s Integrated Diagnostic Holdings says to move ahead with London IPO

Integrated Diagnostic Holdings Plc, a firm that offers diagnostic services and radiology in Egypt, announced its intention to IPO and list on London Stock Exchange (LSE).

The company said it expects that admission will be completed in May 2015.

It added that selling shareholders are expected to sell approximately 50 pct of company’s share capital, inclusive of exercising over-allotment option.

In relation to its planned IPO, the company has achieved progress in completing regulatory and listing requirements for Egyptian stock exchange (EGX).

The company further said in a statement on Friday, the simultaneous offering and listing on EGX alongside LSE will not be possible under envisaged timeframe. It will determine whether to complete EGX filing process subsequent to london stock exchange listing.

Source: Reuters