Cairo - Mubasher: The Initial Public Offering (IPO) of Arabian Food Industries (Domty) will be the first that the Egyptian bourse will witness in 2016, said Mohamed Omran, Egyptian Exchange Chairman.

The Egyptian Financial Supervisory Authority (EFSA) is currently reviewing the company’s fair value, added Omran in exclusive statement to Mubasher.

Last December, Domty said it looks forward to float a stake of 25% to 30% on Cairo bourse by the end of the first quarter of 2016.

Omran stated that the government did not start yet any talks with bourse as regards the public companies they intend to float soon.

Previously, President Abdel Fattah El-Sisi said Egypt plans to float public banks and companies on the local bourse through 2016.

In the same vein, Omran ruled out any current plans towards changing the listing rules on Egypt’s bourse.