Domty’s GDRs to start trading next week; new plant to open within two weeks
Arabian Food Industries (Domty) [DOMT.CA] expects its dollar-dominated global depository receipts (GDRs) to start trading in London by the start of next week, hoping to lure foreign investors and boost liquidity, said the company’s Deputy CEO in an interview. On a separate note, the company is planning to open its new Sixth of October factory within two weeks, which is expected to increase the company’s juice production capacity and add new products by early 2017 to help maintain sales growth at 20% for the next three years. (Bloomberg) Domty: EGP7.30 as of 30 August 2016, Rating: Buy, FV: EGP10.20 per share, MCap: USD232mn, DOMT EY / DOMT.CA
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