Egyptian dairy firm, Arabian Food Industries Co. (Domty) is reportedly planning to list on the Cairo bourse this year or in early 2016.
In an interview with Reuters, Domty's vice CEO Mohamed El Damaty said the dairy and juice company had been encouraged by Egyptian foodmaker Edita's listing of 30% of its shares in April. He did not say what size Domty's IPO would be. The company has paid-in capital of EGP50m ($6.6m).
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Domty has two factories in the 6th October district near Cairo, and plans to start producing yoghurt and carton milk, alongside its cheese and juice products.
"We need to be on the stock market to finance the coming period's expansions. This is suitable timing, especially after the success of Edita and Juhayna's offerings," El Damaty told Reuters.
Domty could not be reached for comment at time of publication.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
