Cairo – Mubasher: Egypt’s dairy producer Domty announced Wednesday the indicative price range for an initial public offering at a range between EGP 8.8 and EGP 9.2 per share.
The final price for the share offering may differ from the indicative price range, the company noted.
Domty is seeking to float a maximum of 122.5 million shares, or 49% of total outstanding share capital to raise nearly EGP 1.1 billion.
The company was cleared earlier today by the listing committee of the Egyptian Exchange gave to publish its IPO prospectus.
CEO Omar Al Damaty told Mubasher that the initial public offering would be completed in weeks.
Domty started procedures of floating 122.5 million shares maximum, or 49% of capital; a total of 110.25 million shares will be offered in a private placement to institutions and 12.25 million will be floated in an initial public offering.
