Egypt: Domty IPO oversubscribed by 10.718 times
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Shares in the Arabian Food Industries Company’s (Domty) initial public offering (IPO) were oversubscribed by 10.718 times at the closing of the IPO on Thursday.
1M | 3M | YTD | 1Y | 2Y |
+5.34% | -5.35% | +11.79% | +60.46% | +217.53% |
Value Traded (Mln EGP) 3,253.62 |
Volume 750,448,205 |
Transactions 83,411 |
Market Cap. (Bln EGP) 1,988.67 |
Shares in the Arabian Food Industries Company’s (Domty) initial public offering (IPO) were oversubscribed by 10.718 times at the closing of the IPO on Thursday.
EGX 30, Egyptian bourse’s main benchmark index ended with a 6.7% growth on March 14, 2016. Other indexes knowingly EGX 70 and EGX 100, also increased by 1.5% and 3.5% respectively. Following that trend, market capitalization surged to EGP428 billion (local currency), thus its highest since May 2014.
Egypt’s stocks completed a trading week of gains on Thursday after the main index approached a three-month high amid foreign and local purchases.
Arabian Food Industries Co is courting investors in the Gulf and Europe for Egypt’s first initial public offering in eight months, betting on discounted shares to outweigh a foreign currency shortage that has curbed appetite for the nation’s assets.