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 is taking place on 26 and 27 September in Sharm El-Sheikh. CEO of EGF-Hermes Karim Awad disclosed in an interview with the Daily News Egypt in September that his company has around six IPOs that will occur in the coming period in the sectors of food industries, services, and the medical sector. Awad added that the first IPO they are following up on is likely to be a food company with a potential value of $100m, adding it will either be at the end of 2014 or in early 2015. 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.
