Cairo – Mubasher: Obour Land for Food Industries saw a profit growth during the first nine months of 2016, said the company in a bourse statement on Thursday.
The company earned EGP 110.1 million, higher 61.5% year-on-year from EGP 68.18 million.
Adjusted earnings for 2015 rose 187% year-on-year to EGP 91.8 million, while registering EGP 32 million and EGP 19.1 million in the fiscal years 2014 and 2015 respectively.
The Egyptian Exchange (EGX) gave a nod to the IPO prospectus of Obour Land for Food Industries, by which a 40% stake equivalent to 80 million shares will be floated on EGX at a maximum offering price of EGP 9.68 per share.
The IPO garnered purchase orders over 787,000 stocks on the second day of its offering, which represents 3.3% of the total offered stocks.
