The share offering of Integrated Diagnostics Holdings (IDH) on the London Stock Exchange (LSE) was covered 11.2 times, at a total value of nearly $3.7 billion, the offering’s book runner, EFG-Hermes, said in a statement to the Egyptian Exchange (EGX) on Sunday.

The offer comprised 65.2 million shares at an offer price of $4.45 per ordinary share – equivalent to an offering size of $290 million and 43.5% of the company's share capital (excluding exercise of the over-allotment option).

Last week, the Egyptian company announced the successful pricing of its initial public offering (IPO) of ordinary shares at $4.45 per ordinary share on the LSE.

The company started conditional trading on 6 May and expected to commence with admission on 11 May.   

The firm's stock rose nearly 26% on its first day of trading on the LSE.

IDH is the largest fully integrated private sector diagnostics services provider in Egypt, including pathology and molecular diagnostics, genetics testing and basic radiology.

Last year the company,  had a private chain market share by revenue of 55%.

The group operates mainly in Egypt through its Al Borg (Core) and Al Mokhtabar (Core) businesses.