ARABIAN FOOD INDUSTRIES – DOMTY – INITIATION OF COVERAGE
​We initiate our coverage for Arabian Food Industries - Domty - with a “Buy†rating driven from a upside potential of 16%; driven from our estimated Fair Value of EGP 6.75 /share Using the DCF valuation methodology for Domty, we utilized an average WACC over our forecasted horizon of 15.60%, a risk free rate of 13.14%, and a market risk premium of 8%. We used the average F&B Sector Beta which is equivalent to 0.6. Currently, the stock is being traded at a discount to its global and local peers. The company has been trading at a 2016 P/E of 19.96x, where 2016 P/E for the global and local peers stood at 26.50x and 29.57x respectively.
Since its founding in 1992 as a privatization consulting office to the government of Egypt, Prime has successfully reinvented itself as a regional investment bank with a presence in major Arab markets. We provide innovative and outstanding financial services to corporations, institutions, governments, and individuals, using the breadth of our expertise to enable them to reach their objectives.
Over the years, we have refocused our business and our people while extending our geographical reach and strengthening our technological capabilities.
Today, Prime is:
- A competitive leader in the region
- Focused on both clients and products
- Led by pioneers who see change as an opportunity that constructively challenges the status quo
- Driven by a fearless and unconditional commitment to delivery and performance
- Supported by a culture that emphasizes teamwork and a sense of urgency
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