El Farasha for Printing and Packaging, a family-owned business established in 2003 with a paid-in capital of EGP90mn, will offer 25-30% of its capital in an initial public offering (IPO) in July 2016, said Ahmed Younes, the company’s Investor Relations Manager. All procedures and valuation requirements have been completed, Younes added, noting that the company is awaiting approval of the Egyptian Financial Supervisory Authority (EFSA) to proceed with the IPO. Early in 2016, El Farasha has started exporting 5% of its production to Yemen, Iraq and Morocco and should expand exports to new markets, such as Russia, soon. It also plans to raise its annual production capacity to 26,400 tonnes from 15,000 after adding additional production lines next month. In 2015, the company’s revenues reached EGP500mn, while its net income was EGP50mn, which the company expects to double this year. El Farasha’s current market share is 40%, covering the needs of many customers including Chipsy For Food Industries (25%), Sinacola (40%), Coca-Cola (100%), Henkel (100%), Regina for Pasta and Food Industries (40%), Cadbury (40%), Nestle (15%), Egypt Foods (30%),Mondelez Egypt (20%) and Misr Café (15%). (Al Mal)