Egyptian businesswoman Hendi El-Sherbini has acquired a $3.2-million stake in Integrated Diagnostics Holdings (IDH) as part of her ongoing investment in the Egyptian healthcare services provider.
The 3.6 million shares were purchased on the London Stock Exchange on Wed., Aug. 3, at a price of $0.90 through El-Sherbini’s investment vehicle, Hena Holdings.
The 3.6 million shares are equivalent to a 0.6-percent stake in the healthcare services provider.
The transaction has increased her stake in the company from 25.5 to 26.1 percent at the time of writing this report.
Under the leadership of El-Sherbini, its CEO, IDH has grown into a major consumer healthcare group in the Middle East and Africa, with operations in Egypt, Jordan, Sudan, and Nigeria.
With 483 labs spread across four countries, the group is Egypt’s largest diagnostic service provider, offering more than 1,400 international-standard diagnostic tests.
El-Sherbini’s recent share purchase solidifies her position as IDH’s largest shareholder.
According to data obtained from the London Stock Exchange, the market value of her shareholding is presently $257 million, making her one of Egypt’s wealthiest investors.
The businesswoman received a EGP331.97-million ($17.9 million) dividend from her stake earlier this year after IDH reported its highest-ever net profit at the end of 2021.
The $17.9-million dividend was paid from the group’s profit of EGP1.49 billion ($80.2 million) at the end of its 2021 fiscal year.
