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Egyptian businessman Hani Berzi has seen a notable surge in the market value of his stake in Edita Food Industries, a prominent player in Egypt’s packaged snack food market. This upswing is attributed to the recent increase in the company’s share price on the Egyptian Exchange.
According to data tracked by Billionaires.Africa, Berzi’s stake in Edita Food has increased by EGP370.05 million ($7.78 million) over the past 11 days. This surge has been fueled by the recent uptick in the company’s shares on the Egyptian Exchange, reflecting investor optimism and confidence in the brand’s trajectory.
Edita Food shares jump 3.96 percent
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.
In recent times, Edita Food shares on the Egyptian Exchange have risen from EGP30.82 ($0.648) on Mar. 31 to EGP32.04 ($0.674), representing a 3.96-percent gain to shareholders. This has propelled the company’s market capitalization above $470 million.
Berzi’s stake in Edita Food surges above $200 million
Berzi — who founded the consumer goods conglomerate in 1996 and serves as chairman and managing director — owns a significant 41.95-percent stake, which is equivalent to 303,323,015 ordinary shares in the leading packaged food manufacturer through Quantum Invest BV.
The single-digit percent surge in share price has propelled the market value of Berzi’s stake in Edita Food by EGP370.05 million ($7.78 million), surging from EGP9.35 billion ($196.6 million) on March 31 to EGP9.72 billion ($204.38 million).
