Egyptian dairy firm Domty is reportedly planning to list on the Cairo Stock exchange in March.
According to Reuters citing a conversation with the firm’s chairman and MD Omar El Damaty, Domty – also known as Arabian Food Industries – is planning an IPO in March.
While he declined to provide more details, market sources told Reuters Domty is planning to raise about EGP1bn ($127.7 million) through the listing.
No one at Domty was available to comment when approached by just-food today (4 February) however the Egyptian Exchange Listing Committee on its website has “decided to approve the publishing of a report” detailing the the company’s projects and management structure.
Domty had first expressed interest in listing in June last year. Damaty told Reuters at the time the firm had been encouraged by Egyptian food maker Edita’s listing of 30% of its shares in April, though did not say what size Domty’s IPO would be.