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Egypt’s Domty plans IPO within two years

: Wednesday, April 30 - 2014 @ 10:37

Omar el-Damaty, chairman of Egyptian dairy firm, Arabian Food Industries Co (Domty) has unveiled plans to float 30% of the company in an initial public offering within two years, Reuters has reported. The firm, which has a market share of 32%, produces 80,000 tonnes of cheese a year and exports to Jordan, Lebanon, and Libya. Domty started a line of juices three months ago, which will help increase sales to EGP1bn ($142.86m) this year from EGP850m in 2013, Damaty said.

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Wednesday, April 30- 2014 @ 10:37 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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