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Edita Food Industries to go for new IPO: Actis partner - Daily News Egypt

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Edita Food Industries to go for new IPO: Actis partner

Mark Richards could not provide details on the value and the timing of the IPO

Edita Food Industries Company is planning an initial public offering (IPO) – a stock market launch – Mark Richards, partner at Actis told the Daily News Egypt on the sidelines of the 5th Emerging Markets Payments Conference (EMPC) that took place on 26 and 27 September in Sharm El-Sheikh.

By closing this deal, Edita will be the second company to go for an IPO as the first IPO held after the January 2011 Revolution was made by Arabian Cement Company in May, with the company aiming to raise $100m by listing in the Egyptian stock market.

Actis entered the Egyptian market recently; it owns 30% stake in Edita and is a major shareholder in the Commercial International Bank (CIB), according to the former UK Trade and Investment Director in Egypt John Franck.

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