Juhayna Food Industries, one of Egypt's largest dairy product and juice makers, will form a joint venture with Denmark's Arla foods that will be 51 per cent owned by Juhayna and managed by Arla, Juhayna said on Thursday.
Juhayna, Egypt's largest producer of packaged juice and dairy products, expects its profits to recover next year after an increase in the cost of raw materials squeezed margins this year, its chairman said.
Safwan Thabet said
Egypt's anti-competitive watchdog said dairy and juice maker Juhayna and two other firms had violated competition laws and fixed prices of raw milk bought from farmers, the authority said on its website.
The Egyptian Competition Author
Shares in Egyptian dairy and juice maker Juhayna Food Industries may trade as much as 18 per cent above their IPO price on Tuesday, analysts said.
They were sold in Egypt's first initial public offering for two years at EGP4.66 ($0.82) per
A public share offer by Egyptian dairy and juice maker Juhayna Food Industries, worth 192 million Egyptian pounds ($34 million), was oversubscribed 6.8 times, the firm's financial adviser said.
Mina Iskander of investment bank EFG-Herm
Egyptian dairy and juice maker Juhayna is offering 206 million shares at 5.64 Egyptian pounds ($1) each to raise 1.16 billion pounds ($204 million), it said in an announcement published in a newspaper on Sunday.
The issue, Egyp