Ogier has advised Integrated Diagnostics Holdings plc (IDH) on its recent listing on the main market of the London Stock Exchange. The $668 million market capitalisation included an initial public offering which raised $290 million.
IDH is the largest fully integrated private sector diagnostics services provider in Egypt, offering a catalogue of more than 1,000 diagnostic services ranging from basic tests, such as glucose testing for diabetes, to molecular tests for hepatitis and highly specialised DNA tests. It operates 288 labs across the MENA region and in 2014, performed 22.3 million tests for 5.6 million patients.
Ogier provided Jersey legal advice as part of the main market listing. The team was led by partner Michael Lombardi, based in Ogier's Jersey office, with managing associate Richard Daggett, senior associate Alan Stirling and associate Ian Clark. Freshfields Bruckhaus Deringer LLP acted as lead advisers to IDH.
Richard Daggett said "We are delighted to have advised Integrated Diagnostics Holdings plc on its successful IPO. As the second Egyptian business to have listed on the London Stock Exchange in 2015, it highlights investor appetite to support strong growing businesses in the MENA region. Also, the use of a Jersey listing company reflects the advantages offered in choosing an internationally respected jurisdiction with a flexible corporate regime."