EFG Hermes has concluded its advisory on an initial public offering for Egypt’s largest medical diagnostics company in the London Stock Exchange.
EFG, which claims to be the Arab World’s leading investment bank, has declared it offered 43.5 percent of stocks at Integrated Diagnostics Holdings Plc at the LSE. It set the value of the IPO at US$290 million.
“The firm acted as the joint global coordinator and joint bookrunner on the transaction, which marks the first time EFG Hermes advised on a primary listing on the LSE. The IPO also represents the first primary listing of an Egyptian healthcare business on the LSE”, EFG said in its statement.
“This is a particularly gratifying listing for the entire team, backed by years of work culminating in the success of today’s offering”, said Ahmed El-Guindy, Head of Investment Banking at EFG Hermes.
