Arabian Food Industries Company (Domty) has received a non-binding initial offer from Expedition Investments to acquire a stake of up to 90% in Domty.
Expedition Investments intends to purchase a majority stake in Domty at an initial value of EGP 5 per share, according to a bourse filing on Sunday.
Expedition Investment is a company incorporated in accordance with the laws of the State of Mauritius in consortium with some investors.
In addition, Share of the Arab Food Industries Company “Domty” topped the gainers of Ramadan’s first trading session, Sunday, on the Egyptian Exchange (EGX), recording a hike of 14.21 percent, gaining LE 0.54 piasters to end trading at LE 4.50, up from LE 3.94.
Domty’s trading volume, by the end of Sunday’s session, April 3, reached 16.77 million shares, with a turnover of LE 73.37 million.
