Edita Food Industries, the Egyptian snack maker, Initial Public Offering (IPO)'s private placement issued to investment institutions was oversubscribed by 13.4 times, said a bourse filling on Sunday.

Edita set the final offering price on the Egyptian Exchange (EGX) at EGP 18.5 per share and $12.28 per global depository receipt (GDR).

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

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.