Domty begin trading on the Egyptian Stock Exchange.
On Tuesday the 22nd of March, EGX Administration announced the trading on Arab Food Industries Co. (DOMTY) shares and the opening price was LE9.20 per share.
Arabian Food Industries (Domty) opened its first trading session on Cairo bourse among the top gainers as the company’s stock jumped 10.7% on the first day to reach 10.21 Egyptian pounds ($1.15).
Trading begins after a book-building process that saw selling shareholders including El Damaty family (c. 65 per cent) and Mr. Yehia Bin Laden (c. 35 per cent) offer 110,250,000 shares to international institutional foreign and local investors, and 12,250,000 more to Egyptian retail investors (together, the “Combined Offering.”) The institutional offering was more than 5.5x oversubscribed, while the Egyptian retail offering was 10.7x oversubscribed.
In total, the Combined Offering of 122,500,000 was 6x oversubscribed, having generated demand for 739,040,360 shares (or EGP 6.8 billion in total demand).