By Ahmed Allam
Cairo – Mubasher: The initial public offering of Arabian Food Industries (Domty) was heavily oversubscribed by the end of its closing date.
The IPO was covered 10.7 times after bids were received for 131.3 million shares, while the company offered 12.25 million shares, according to OPR figures.
Thus, the company will set allotment at 9.3%, Mubasher calculated.
Earlier, Domty aimed to float 49% of capital, with a maximum of 122.5 million shaes.
It offered a total of 110.25 million in a private placement to institutions and 12.25 million an initial public offering.
The private offering, which ended on Monday, was covered 5.5 times, Cairo bourse indicated.
