The local cheese maker is ready for its IPO after receiving approval from the Egyptian Financial Supervisory Authority (EFSA) on its fair value report. The company is offering 40 per cent of its equity , equivalent to 80 million shares at LE9.68 per share.
Seventy percent of the offering will be for institutions, local and international while the rest is earmarked to domestic retail investors. shares on offer are earmarked for an institutional offering, while the balance will be part of an offering to domestic retail investors.
The offering is supposed to last till December 13. The IPO of dairy and cheese producer Domty closed 10 times oversubscribed in March.
