Edita Food Industries, an Egyptian snacks maker part-owned by London-based buyout firm Actis LLP, is planning to launch its initial public offering by end of fiscal year of 2014-2015.
One of the key reasons behind Edita’s IPO plans is to find new financing tools so as to implement future expansions and provide a new mechanism that would facilitate receiving new investors and exit of others, said Chairman and CEO Hani Berzi.
Berzi futher told Amwal Al Ghad that Edita is currently in talks to select the investment bank that would assist in its coming share sale in the Egyptian Exchange (EGX). The company will determine the amount of the capital raise after concluding its ongoing financial assessments.
Products from Edita, the largest independent snack food business in North Africa, include Molto, Todo, Bak Rolz, Twinkies and Hohos.
