{"id":565799,"date":"2021-05-05T14:11:37","date_gmt":"2021-05-05T14:11:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/egx-moves-ahead-with-idhs-dual-listing-ghazl-el-mahalla-eyes-october-debut\/"},"modified":"2021-05-05T14:11:37","modified_gmt":"2021-05-05T14:11:37","slug":"egx-moves-ahead-with-idhs-dual-listing-ghazl-el-mahalla-eyes-october-debut","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/egx-moves-ahead-with-idhs-dual-listing-ghazl-el-mahalla-eyes-october-debut\/","title":{"rendered":"EGX moves ahead with IDH\u2019s dual listing + Ghazl El Mahalla eyes October debut"},"content":{"rendered":"

<\/a> Integrated Diagno<\/strong>stics Holding (IDH) is closer to becoming the latest <\/strong>company to list in Egypt<\/strong> after the EGX\u2019s securities registration committee this morning approved<\/a> its plans to sell 5% of its shares on the Egyptian bourse.<\/p>\n

It\u2019s still unclear when the trigger will be pulled on the listing:<\/strong> The listing is pending final approval by the Financial Regulatory Authority, a company source told us. The regulator gave preliminary approval to the listing in March<\/a>. The company will then be able to make a public disclosure to list, and its shares can then debut five days after this disclosure is made, the EGX said yesterday.<\/p>\n

The ticker:<\/strong> Whenever the company debuts, its shares will be traded under the ticker symbol IDHC.CA.<\/p>\n

Remember: There won\u2019t be any share subscription<\/strong> because this is a technical listing, which doesn\u2019t involve listing new shares on an exchange. The IDH listing will involve investors owning some 30 mn of the company\u2019s London-listed shares transferring their equity to the EGX.<\/p>\n

About the company:<\/strong> IDH is listed on the LSE, and currently has a market cap<\/a> equivalent to USD 678 mn. It became the first Egyptian health company to IPO in London when it sold 43.5% of its shares in 2015, raising USD 290 mn in an offering that was 11x oversubscribed<\/a>.<\/p>\n

IDH could be the second company to debut on the EGX this year after higher education outfit <\/strong>Taaleem<\/a><\/strong> ended an IPO drought <\/strong>that plagued the exchange since before the pandemic struck in early 2020. Another company, cosmeceuticals player Macro Group, was also planning to IPO last month but decided to postpone plans until the fall due to concerns about the market\u2019s capacity to absorb multiple offerings at once.<\/p>\n

OTHER IPO NEWS- <\/strong><\/p>\n

Ghazl El Mahalla FC is moving ahead with its EGX listing before the <\/strong>current football season<\/strong> wraps up in October<\/strong>, Public Enterprises Minister Hisham Tawfik told Al Mal<\/a>. Valuation studies have been completed and are expected to be announced in the coming days, the minister said. Tawfik said earlier this year that the IPO could hit the market during the summer<\/a>, having previously aimed for a first-quarter offering<\/a>.<\/p>\n

Ghazl El Mahalla is looking to list around <\/strong>two-thirds of its shares on the EGX<\/strong> and raise EGP 100 mn<\/strong>, making it the first publicly traded Egyptian football club. The owner, El Mahalla Spinning and Weaving Company, completed in recent months a restructuring of the club and upgraded its facilities.<\/p>\n","protected":false},"excerpt":{"rendered":"

Integrated Diagnostics Holding (IDH) is closer to becoming the latest company to list in Egypt after the EGX\u2019s securities registration committee this morning approved its plans to sell 5% of its shares on the Egyptian bourse. It\u2019s still unclear when the trigger will be pulled on the listing: The listing is pending final approval by […]<\/p>\n","protected":false},"author":1,"featured_media":565800,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10060],"tags":[68,633,80,7138,153,1406,78],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-565799","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-ipo-watch","tag-egx","tag-enterprisepm","tag-ghazl-el-mahalla-fc","tag-health","tag-hisham-tawfik","tag-integrated-diagnostics-holding","tag-ipo-watch","wpautop","entry"],"acf":{"mongo_id":"e27b7654-8887-4ccb-8dbd-d8ece6d38455","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/5\/310.jpg","photo_position":"above","related_issue":[565795],"teaser":"","voice_url":""},"yoast_head":"\nEGX moves ahead with IDH\u2019s dual listing + Ghazl El Mahalla eyes October debut - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/egx-moves-ahead-with-idhs-dual-listing-ghazl-el-mahalla-eyes-october-debut\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EGX moves ahead with IDH\u2019s dual listing + Ghazl El Mahalla eyes October debut\" \/>\n<meta property=\"og:description\" content=\"Integrated Diagnostics Holding (IDH) is closer to becoming the latest company to list in Egypt after the EGX\u2019s securities registration committee this morning approved its plans to sell 5% of its shares on the Egyptian bourse. 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The football club is looking to list around two-thirds of its shares and reel\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/2\/184.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542909,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/24\/moving-closer-to-macro-group-ghazl-el-mahalla-ipos\/","url_meta":{"origin":565799,"position":1},"title":"Moving closer to Macro Group + Ghazl El Mahalla IPOs","author":"enterpriseam admin","date":"24 January 2022","format":false,"excerpt":"The Financial Regulatory Authority (FRA) has given Macro Group the green light to publish the public subscription notice for its upcoming IPO, according to an FRA statement (pdf) dated 20 January. The group will sell up to 264.5 mn shares \u2014 or 45.8% of the company \u2014 at a maximum\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/303.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566829,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/15\/egypts-first-football-listing-worth-egp-200-mn\/","url_meta":{"origin":565799,"position":2},"title":"Egypt\u2019s first football listing worth EGP 200 mn?","author":"enterpriseam admin","date":"15 July 2021","format":false,"excerpt":"Ghazl El Mahalla FC is looking to make an EGP 200 mn EGX debut, Prime Holding CEO Mohamed Maher tells us. Prime is quarterbacking the company\u2019s listing on the bourse.Wait, how can the company know the value of the transaction before it even gets the green light for the IPO?\u2026","rel":"","context":"In "SPEED ROUND: IPO WATCH"","block_context":{"text":"SPEED ROUND: IPO WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562124,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/09\/idh-shares-to-go-live-this-month\/","url_meta":{"origin":565799,"position":3},"title":"IDH shares to go live this month","author":"enterpriseam admin","date":"9 May 2021","format":false,"excerpt":"Integrated Diagnostics Holding (IDH) shares are expected to begin trading on the EGX on 20 May after the Financial Regulatory Authority (FRA) gave the all-clear last week for the London-listed company\u2019s dual listing, IDH said in a statement on Thursday. The company is planning to list a 5% stake (some\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/66.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561038,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/23\/idh-is-one-step-closer-to-listing-on-egx\/","url_meta":{"origin":565799,"position":4},"title":"IDH is one step closer to listing on EGX","author":"enterpriseam admin","date":"23 March 2021","format":false,"excerpt":"Consumer healthcare giant Integrated Diagnostics Holdings (IDH) is one step closer to its dual listing on the EGX after the company received Financial Regulatory Authority (FRA) approval yesterday to go ahead with the transaction, IDH said in a disclosure (pdf) to the London Stock Exchange. IDH had submitted the paperwork\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/284.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567896,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/10\/ghazl-el-mahalla-could-become-the-first-sports-club-to-hit-the-egx-in-1q2021\/","url_meta":{"origin":565799,"position":5},"title":"Ghazl El Mahalla could become the first sports club to hit the EGX in 1Q2021","author":"enterpriseam admin","date":"10 December 2020","format":false,"excerpt":"Ghazl El Mahalla could sell shares in an initial public offering on the EGX as soon as 1Q2021, Public Enterprises Minister Hisham Tawfik said, according to Al Mal. A joint-stock company the ministry set up earlier this year to incorporate the state-owned football club will target EGP 100 mn through\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/198.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565799","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=565799"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/565799\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/565795"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/565800"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=565799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=565799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=565799"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=565799"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=565799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}