The Expedition Investments, which represents members of a consortium of investors, submitted the draft of the compulsory purchase offer to the authority to acquire the shares of the capital of the Arab Food Industries Company - Domty.
Mauritius Expedition Investment Company submitted, Sunday, a letter regarding its intention to submit a non-binding purchase offer on the shares of the Arab Food Industries Company "Domty", according to the Financial Regulatory Authority (FRA).
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.
Expedition Investment is a company incorporated in accordance with the laws of the State of Mauritius in consortium with some investors,
Mohamed El-Damaty, managing director of the company, said in a statement to the Egyptian Stock Exchange (EGX), Tuesday that "Domty" is operating with a capacity of 90 percent of the three production lines of baked goods, expecting to reach the maximum capacity at the beginning of the school year.
The company attributed this expectation to the increase in sales volumes and value of the cheese and bakery segments.
The loan proceeds will be used to finance the company’s future expansion and capital expenditures for the company’s new product.
As per standalone results, the company achieved profits of LE 139.4 million, compared to LE 49.98 million in 2017.
HC Brokerage clarified in a report that the target price of Juhanya increased by 36 percent to LE 16.1 per share.
The company achieved profits of LE 12.03 million in the three month period ending in June 2017, compared to LE 20.7 million in Q2 2016.
Arabian Food Industries Company Domty announced net profits of LE 12 million ($668,528) during the second quarter of 2017.