Egypt's Juhayna launches IPO

Egypt-based Juhayna Food Industries has launched an EGP1bn initial public offering to increase its capital increase, Reuters has reported. The company is selling 80% of the shares in a private placement and 20% to the general public. The new funds will raise Juhayna's capital to EGP1.52bn. It will use the funds to invest in its current farms and for new farms.

Posted on Sunday, June 6-2010

News provided by: AME Info