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Monday, 11 April 2016

Selling shareholders from Domty IPO inject EGP 300 mn into the company to fuel expansion

Domty shareholders inject EGP 300 mn into cheesemaker to fuel expansion: Fresh off its IPO, leading cheesemaker Domty announced yesterday that it was increasing its issued capital by issuing 32.6 mn shares worth EGP 300.0 mn to Cayman Island-registered Trevi Holding at a price of EGP 9.20 per share, making it the company’s second-largest shareholder. The beneficial owners of Trevi Holding are the Damaty family and Yehia Bin Laden, who sold down pro-rata during the secondary offering and subsequently subscribed to an EGP 300 mn closed share offering announced yesterday, injecting EGP 300 mn into the company in the process. Domty will use the capital injection to expand domestically and consider opportunities in Africa.

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