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EGX executes Edita share offering worth EGP 808m

EGX executes Edita share offering worth EGP 808m
Photo Credit: Arabianeye-Reuters
Edita
EFID
-2.86% 31.98 -0.94

Cairo-Mubasher: The Egyptian Exchange (EGX) announced Wednesday the execution of the private placement and initial public offering (IPO) of Edita Food Industries Co. at 43.7 million total shares at EGP 18.5 each.

The total value of the company’s share offering now stands at EGP 808 million ($106 million).

A total of 16.3 million shares were offered in the IPO, while 27.4 million shares were floated in the private placement, the EGX noted.

The foodstuff producer said earlier that it sought to raise more than EGP 2 billion ($262 million) from its 30% share offering.