By Mahmoud Salah El-Deen
Cairo – Mubasher: Egypt’s Obour Land for Food Industries plans to float a stake of 25% on the Egyptian Exchange by the beginning of 2017, said Mohammed Hamed, the company’s president.
Before the floatation, the dairy producer also intends to hike its issued capital to EGP 300 million, financed through loans from key shareholders, Hamed told Mubasher in a phone call, adding that the share offering is to be carried out through a partial exit of a 25% equity stake owned by key shareholders.
The company’s issued capital amounts to EGP 200 million, while the authorized capital stands at EGP 1 billion.
The financial advisor, CI Capital, currently ponders and fullfils all necessary requirements to for a successful listing process, the president concluded.
