Egyptian dairy firm Arabian Food Industries Co (Domty) is planning an initial public offering (IPO) on the Cairo bourse in March, Chairman and Managing Director Omar El Damaty said on Wednesday. Food is seen as a fast-growing sector in the Arab nation of about 90 million people and is drawing growing investor interest.
"The initial public offering for Domty on the Egyptian bourse will be in March," El Damaty told Reuters by telephone, declining to provide more details.
Market sources said Domty planned to raise about 1 billion Egyptian pounds ($127.7 million) through the listing.
Domty is the latest in a flurry of IPOs, mergers and rights issues on the Cairo exchange since late last 2014.
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