Mubasher TV
Contact Us Advertising   العربية

Edita stock to debut at EGP18.5/share Thursday

Edita stock to debut at EGP18.5/share Thursday
Photo Credit: Arabianeye-Reuters
Edita
EFID
-2.86% 31.98 -0.94

Cairo-Mubasher: Edita Food Industries stock will start trading Thursday at an opening price of EGP 18.5 per share, the Egyptian Exchange (EGX) announced.

The stock will trade on debut with no price limits and will not be subject to applicable suspension rules.

The stock market announced Wednesday the company’s private placement and initial public offering (IPO) at a total number shares reaching 43.7 million at EGP 18.5 each.

The 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.