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English news

11-Apr-2016

Domty shareholders to inject EGP300 million from IPO proceeds

Domty’s (DOMT.CA) BoD approved increasing the company’s paid-in capital to EGP56.5 million from EGP50 million by issuing 32.6 million shares (increasing share capital to 282.61 million) worth cEGP300 million to Trevi Holding at a price of EGP9.20 per share. 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 a EGP300 million closed share offering. Domty will use the injected capital mainly to finance domestic distribution investments, as well as potential opportunities in Africa. (Company disclosure)

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