Reuters – Arabian Food Industries Co (Domty), one of Egypt’s top dairies, plans to float 30% of the company in an initial public offering within two years, Chairman Omar el-Damaty has told reporters.
The firm, which has a market share of 32%, produces 80,000 tons 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 1bn Egyptian pounds ($142.86m) this year from 850m in 2013, Damaty said.
The firm plans to increase its production lines in Egypt to 16 from 4 by the end of the year.
