Egyptian snack maker Edita Food Industries seeks to raise as much as $262 million in its initial public offering (IPO) on the Egyptian Stock Exchange (EGX), the company said in a bourse statement.

Edita has set out plans to list up to 30% of its ordinary shares on both Cairo and London stock exchanges. EFG-Hermes and Goldman Sachs will advise on the IPO.

The company is making a combined offering that includes an institutional offering of ordinary shares on the EGX and global depository receipts (GDRs) to be listed in London.

The reference price for the ordinary shares’ offering will come within the range of EGP 16.8 to EGP 18.5 per share, the company said.

Edita has a capital of EGP 72.536 million, divided into around 362.7 million  shares, with a par value of EGP 0.20 per share.

As for the GDRs, every receipt will be equivalent to five ordinary shares and its final price will be based on the official exchange rate of the Central Bank of Egypt (CBE), Edita said.  

In 2014, Edita generated revenue of EGP1.92 billion ($252.6 million, EBITDA of EGP 463.1 million and net profits of EGP 265.9 million.

Revenue, EBITDA and net profit grew by 19.6%, 26.9% and 26.2%, respectively, on a CAGR basis between 2012 and 2014, according to the company.

Edita’s products include cakes and croissants as well as confectioneries. Local brands include Molto, Todo and Bake Rolz.

Edita also owns international brands in certain jurisdictions, including Twinkies, and operates four factories in Egypt with 21 production lines.