Egypt’s Domty gives US$1.12-$1.17 float price guidance

Arabian Food Industries Co (Domty) said price guidance for its planned share float on the Egyptian bourse would be LE8.8 to LE9.2 (US$1.12-$1.17).
Domty, founded in 1985, will offer 122.5 million shares, 110.25 million of which will be sold in a private offering along with 12.25 million shares to be offered publicly.
"The price guidance for the shares to be listed on the Egyptian exchange ranges between LE8.8-9.2, keeping in mind that the final price of the issue could be higher or lower than (that)," the firm said in a bourse statement.
Both offers will start on Sunday and conclude on March 17 and are expected to raise LE1.1 billion.
The company, with paid-up capital of 50 million pounds, has two factories in the 6th of October district near Cairo and plans to start producing yoghurt and milk, alongside its cheeses and juice.

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