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Edita shareholders endorse EGX stock listing

Edita shareholders endorse EGX stock listing
Edita
EFID
-2.86% 31.98 -0.94
The ordinary general meeting of Edita Food Industries Co. approved on Thursday all procedures taken as regards listing the company’s stock on the Egyptian Exchange (EGX), as well as listing capital under central depository system at Misr for Central Clearing, Depository & Registry (MCDR).
Shareholders also appointed financial advisor Pharos Promotion & Underwriting for floating the company’s shares on EGX.
Meanwhile, the extraordinary general meeting approved amending articles of incorporation. The foodstuff company is seeking to offer portion of its capital in Egypt bourse during the first quarter of 2015, according to previous statements issued by the company’s CEO.
Meanwhile, officials at the capital market expected the company’s IPO value not to be less than EGP 1.5 billion ($210 million.
Photo Credit: Arabianeye-Reuters