Cairo – Mubasher: Obour Land for Food Industries has obtained the regulatory approval to float a 40% stake, or 80 million shares, on the Egyptian Exchange (EGX) at EGP 9.68 a share, said the company Monday in a bourse statement.
Traders can submit their bids during five working days starting from 6 December 2016, the statement indicated, revealing that the cut-off price will be announced no later than next Sunday, 11 December.
The cheese maker has to pay a 25% deposit at least out of the total asked share no later than 13 December, the company noted in the IPO filing.
The company hired CI Capital as the global coordinator and book-runner, Matouk Bassiouny as the legal counsel, Norton Rose Fulbright as the international counsel.
Meanwhile, Grant Thornton prepared the FV report.
