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Edita offers shares on EGX at EGP 18.5

Edita offers shares on EGX at EGP 18.5
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Edita
EFID
-2.86% 31.98 -0.94

Cairo-Mubasher: Edita Food Industries, the Egyptian snack maker, set the final offering price on the Egyptian Exchange (EGX) at EGP 18.5 per share and $12.28 per global depository receipt (GDR).

The company said the subscription was 13.4 times oversubscribed in the private placement issued to investment institutions, as shares worth $3.034 billion (EGP 22.847 billion) were sold.

The company  has a market capitalization reaching EGP 6.710 billion ($891 million) based on the final price of the private placement on the Egyptian Exchange  and London Stock Exchange and the public offering on EGX.  

Edita said the public offering on EGX will be closed on 31 March, adding that subscription to its shares and GDRs will start on LSE on 2 April.

The snack maker expects the free float to reach 30% of the total shares when completing the joint offering.