Arabian Food Industries’ (Domty) [DOMT.CA] rights issue (c32.5mn shares) was approved by the Listing Committee on 25 May 2016 that should increase the company’s total number of shares to c282.6mn from 250.0mn (proceeds of cEGP300mn). The rights issue price of EGP9.2/share is in line with the IPO (secondary offering) price and was restricted to the company’s selling shareholders during the secondary offering, namely, the Al Damaty Family and Yehia Bin Laden. However, the ex-dividend date is yet to be announced. (Al Alam Al Youm) Domty: EGP8.14 as of 25 May 2016, Rating: Buy, FV: EGP14.30 per share, MCap: USD229 million, DOMT EY / DOMT.CA
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