Egyptian businessman Hani Berzi has seen the market value of his stake in Edita Food Industries, a growing packaged snack food market in Egypt, increase by over $55 million since the start of the year, cementing his position as one of Egypt’s richest investors.
Data gathered by Billionaires.Africa revealed that the market value of Berzi’s stake in Edita Food has increased by EGP1.72 billion ($55.7 million) since Jan. 1 as investors on the local bourse continue to increase their stakes in the Egyptian Stock Exchange.
Edita Food Industries is a market leader in Egypt’s growing packaged snack food market. The consumer goods group manufactures and sells a variety of branded snack products through its extensive retail channel, including packaged cakes, croissants, rusks (baked wheat), and wafers.
Berzi, who founded the consumer goods conglomerate in 1996 and presently serves as chairman and managing director, owns a significant 41.95-percent stake in the leading packaged food manufacturer through Quantum Invest BV.
However, the share price of Edita Food Industries has risen by 40.82 percent, from EGP13.89 ($0.44956) on Jan. 1 to EGP19.56 ($0.6331) on Aug. 17, thus pushing the market capitalization to EGP14.14 billion ($457.7 million) leading to substantial gains for its shareholders, including the affluent Berzi.
As a result of the double-digit percent surge in Edita shares, the market value of Berzi’s stake in the consumer goods conglomerate has increased from EGP 4.21 billion ($136.4 million) since the start of the year to EGP 5.93 billion ($192.02 million) at the time of writing this report, thanks to the double-digit percent surge in its shares on the Egyptian Exchange.
This translates to a total gain of EGP1.72 billion ($55.7 million) for the Egyptian businessman. The year-to-date surge in his shareholding cements his position as one of the richest investors on the Egyptian Exchange and one of the wealthiest men in the country. Edita Food Industries remains one of the largest listed companies on the local bourse.
