Cairo - Mubasher: Arabian Food Industries (Domty)looks forward to float a stake of 25% to 30% on the Egyptian Exchange (EGX)by the end of the first quarter of 2016, said vice CEO, Mohamed El Damaty.
The firm seeks to bolster its local, as well as its overseas market share in 2016, added El Damaty.
The dairy and juice company plans to add new products to its current production mix, in addition to developing its existing ones, said Vice CEO.
We work on raising the company's annual production capacity by 20% to 25% in the first year, following the Initial Public Offering (IPO), pointed out El Damaty.
The company currently produces 100,000 tons and 40,000 tons of cheese and juice respectively.
Elaborated, El Damaty ruled out the company's intention to add the yogurt to its production mix, at least in the present time.
The firm achieved local sales worth nearly EGP 1 billion in 2015, noted El Damaty.
The exports accounts nearly for 9% to 10% of the company's total production, said El Damaty.
"The company eyes potential growth opportunity in the Russian market," he said.
Domty was founded in 1989 and is specialised in the cheese industry, dairy products, as well as juices, which were added in 2013.
Domty operates with capital of EGP 50 million. Damati family owns 70% of the company’s shares, while a Saudi investor owns 30%. The company currently owns two factories in the Cairo suburb of 6th of October City.
