Egyptian businessman Hani Berzi has experienced a remarkable surge in the market value of his stake in Edita Food Industries thanks to the recent upswing in the company’s share price on the Egyptian Exchange.
According to data tracked by Billionaires.Africa, the market value of Berzi’s stake in Edita Food Industries has skyrocketed by EGP2.05 billion ($66.45 million) over the past 31 days, reflecting the growing interest of investors in the Egyptian equities market.
Earlier on, Berzi suffered a loss of $12 million as the market value of his stake in Edita Foods Industries declined from EGP6.44 billion ($208.16 million) to EGP6.07 billion ($196.01 million) between September 6 and September 26.
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.Â
Berzi, who founded the consumer goods conglomerate in 1996 and presently serves as chairman and managing director of the group, owns a significant 41.95-percent stake in the leading packaged food manufacturer through Quantum Invest BV.
Since Sept. 26, Edita Food shares on the Egyptian bourse have increased from EGP20 ($0.647) to EGP26.77 ($0.866) at the time of writing this report, propelling the company’s market capitalization above $625 million and delivering a substantial 33.85-percent gain to shareholders, including Berzi.
As a result of this double-digit percent surge, the market value of Berzi’s 41.95-percent stake in Edita Food has increased by EGP2.05 billion ($66.45 million), climbing from EGP6.07 billion ($196.32 million) on Sept. 26 to EGP8.12 billion ($262.78 million) at the time of writing this report.
This significant growth translates to a total gain of EGP2.05 billion ($66.45 million) for the Egyptian businessman, solidifying his position as one of the most prosperous investors on the Egyptian Exchange and one of the wealthiest individuals in the country.
