Egyptian billionaire Hani Berzi has experienced a significant increase in the market value of his share in Edita Food Industries, a major player in Egypt’s packaged snack food market. This surge is due to the recent increase in the company’s share price on the Egyptian Exchange.
Berzi’s stake in Edita Food has climbed by EGP370.05 million ($7.78 million) in the last 11 days. This boom has been spurred by a recent increase in the company’s shares on the Egyptian Exchange, which reflects investor optimism and trust in the brand’s future.
Edita Food Industries is a market leader in Egypt’s expanding packaged snack food sector. The consumer goods company manufactures and sells a wide range of branded snack products via its broad retail network, including packaged cakes, croissants, rusks (baked wheat), and wafers.
Edita Food’s share price on the Egyptian Exchange has recently risen from EGP30.82 ($0.648) on March 31 to EGP32.04 ($0.674), marking a 3.96 percent gain for shareholders. This has increased the company’s market value beyond $470 million.
Berzi, who formed the consumer products business in 1996 and currently serves as chairman and managing director, controls a huge 41.95 percent stake, or 303,323,015 ordinary shares, in the leading packaged food maker through Quantum Invest BV.
The single-digit percent rise in share price has increased the market value of Berzi’s holding in Edita Food by EGP370.05 million ($7.78 million), from EGP9.35 billion ($196.6 million) on March 31 to EGP9.72 billion.