Actis Capital LLP sold 15% of its stake in Edita Food Industries, said a bourse statement.

The Egyptian snack maker has floated 108.8 million shares on the Egyptian Stock Exchnage (EGX) at offering price of EGP 18.5 per share, along with $12.28 per global depository receipt (GDR).

The book building was divided into two tranches. The first tranche – issued to the public – amounts to a maximum of 16.3 million shares valued at EGP 313.5 million and representing 15% of the issuance and 4.5% of shareholding and was covered by 4.5 times through requesting 27.88 million shares.

The second – which is private – amounts to a maximum of 92.5 million shares valued at EGP 1.78 billion, representing 85% of the issuance and 25.5% of shareholding.

Edita private placement issued to investment institutions had been over-subscribed 13.4 times.

The company commenced trading of its shares on EGX on 2 April.