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Monday, 23 May 2016

El Farasha for Printing to IPO in July

El Farasha for Printing and Packaging will float a 25-30% stake in an IPO in July 2016, said Investor Relations Manager Ahmed Younes, according to Al Mal. El Farasha completed the necessary processes and valuations, but still awaits EFSA’s approvals to proceed with the IPO. The company says it already exports 5% of its production and is looking to expand its output to 26.4k tonnes annually. El Farasha is a family-owned business setup in 2003 with a paid-in capital of EGP 90 mn, Al Mal adds. The company is a top provider of packaging to multinationals operating in Egypt as well as to domestic FMCG brands, with clients including Coca-Cola, Cadbury, Nestle and Mondelez, among others. The story does not take note of who is advising on the transaction.

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