IDH wants out of the EGX: Integrated Diagnostics Holdings (IDH) could soon delist its shares from the Egyptian Stock Exchange due to “limited trading activity” and the “absence of any investment potential in maintaining the listing on the secondary market,” the consumer healthcare giant said in a disclosure to the EGX (pdf). All listed shares will be transferred to their primary market on the London Stock Exchange (LSE) if the extraordinary general assembly approves the voluntary delisting, the company’s board said in the disclosure.

What’s next? The company will announce later a timetable of the delisting procedures, which include the date of extraordinary general assembly meeting to vote on the move and dates of the proposed delisting.

Objecting shareholders can then sell their shares back to the company at the highest price of the following: (a) The highest closing share price on EGX during last month, (b) the highest close share price on LSE during last month, (c) the average closing price on EGX in the past three month, or (d) the average closing price on LSE in the past three month based on the average exchange rate in EGP during this period.

Remember: The Cairo-based company had the first technical listing of its kind on the Egyptian stock market in May 2021 when it transferred 5% of its shares from the LSE to the EGX after having a blockbuster debut in London back in 2015.

Advisors: The company tapped Clifford Chance, Matouk Bassiouny, and Ogier LLP as legal advisors.

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