Egypt’s Integrated Diagnostics targets $600m valuation from UK float | GulfNews.com

Dubai: Integrated Diagnostics Holdings (IDH), an Egypt-based health care diagnostics service provider, is targeting a value of around $600 million (Dh2.2 billion) from its planned listing on the London Stock Exchange, a source familiar with the matter said on Tuesday.

It is the latest firm from the Middle East to choose the UK bourse for a flotation in recent years, avoiding more restrictive regulatory regimes for listing closer to home and, in the case of Egypt, political turbulence which has had a major economic impact.

Up to 45 per cent of IDH could be listed, should an up to 15 per cent over-allotment option be exercised, in an initial public offering expected to complete in February, the company said in a statement.

IDH, created by a 2012 merger of Al Mokhtabar and Al Borg Laboratories, offers pathology and molecular diagnostics, genetics testing and basic radiology in Egypt, Jordan and Sudan, and it operated 283 laboratories as of September 30.

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Egypt’s Integrated Diagnostics targets $600m valuation from UK float | GulfNews.com