Arab Finance: Edita Food Industries’ board of directors has approved trimming its capital from EGP 144.611 million to EGP 140.002 million, according to a filing sent to the Egyptian Exchange (EGX) October 12th.
The cut will be executed via writing off nearly 23.044 million treasury shares at a par value of EGP 0.20 per share.
Founded in 1996, Edita is an Egypt-based leader in the packaged snack food market that operates within the manufacturing, marketing, and distribution of a range of branded baked snack products, including packaged cakes, croissants, rusks, and wafers, as well as selected confectionery and candy products.