By Mohamed Adel
Domty Company for Foods and Production is still weighing proposals from three companies vying to serve as a consultant during the process of listing the company in the Egyptian Stock Exchange (EGX), company chairman Omar Damaty said Tuesday.
Domty will announce its selection within two months, said Damaty, who spoke with Daily News Egypt on the sidelines of the IPO Egypt conference, EGX’s first summit examining the measures and rules of public listing.
One of Egypt’s top dairies, Domty plans to float 30% of the company in an initial public offering (IPO) within two years, Damaty said, explaining that the percentage may increase or decrease according to what the chosen consulting firm would determine.
The move is in line with the company’s target to record EGP 25m in investments in the coming period, Damaty said.
Domty’s capital totals EGP 70m, Damaty said.
In order to increase Domty’s sales to EGP 1bn in 2014 from EGP 850m in 2013, the chairman said in April that the company had initiated a new line of juices, adding that they also plan to increase the production line to 16 from 4 this year.
