Egyptian snack maker Edita plans $200 mln stock market listing

Egyptian cake and biscuit maker Edita Food Industries plans to list its shares on the Egyptian stock exchange early next year, tapping into a revival of investor interest in the Cairo bourse .

The initial public offering (IPO) could value the food company at around 1.5 billion Egyptian pounds ($209.79 million), industry sources said. The IPO is planned for the first quarter of 2015.

Edita Chief Executive Hani Birzi would not say how much he expected the company to be worth or give any further details of the IPO, which has already received the go-ahead from the regulator.

The Edita IPO is part of a flurry of mergers and rights issues that has boosted activity on the Cairo exchange, which had struggled to revive investor confidence during more than three years of political and economic turmoil since the Arab Spring uprisings.