Egyptian dairy producer Domty signs $10 mln deal with Russian Magnit

Ahram Online , Tuesday 19 Apr 2016

Egyptian dairy producer and juice maker Arabian Food Industries Co. (Domty) signed a $10 million deal to export to the Russian market, the company said in a press release sent to the Bourse on Tuesday.

Domty agreed with Russian yper chain Magnit to export their products within a period of four years, Ahmed El-Homosany, the head of investors relations at the company, told Ahram Online.

The dairy producers sold 12.25 million shares in a public offering in March at EGP 9.2 per share, with the sale hugely over-subscribed.

Arabian Food industries' share price gained 1.79 percent to reach EGP 9.68 a share in the first hour of trade on Tuesday.

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