Skip to content
Edita Food Industries plans a $2.76 million capital boost via retained earnings, doubling issued capital to $5.53 million as part of its regional expansion strategy.
The recovery follows a sharp decline between Jan. 1 and Feb. 7, when the market value of his stake dropped by EGP 2.84 billion ($56.48 million).
While revenue surged, higher operational costs and currency devaluation cut into profits, pushing earnings below the previous year’s $30 million benchmark.
Since the start of the year, the value of his holding has risen by $45.8 million, fueled by a strong rally in the company’s stock on the EGX.
The facility marks a major step in expanding Egypt’s telecom infrastructure and solidifying the country’s position as a regional manufacturing hub.
This recent surge adds to an impressive $304 million gain in 2024.
The company’s stock suffered a downturn on the Egyptian Exchange (EGX), reflecting the ongoing challenges in Egypt’s snack food market.
The decline stems from a steep fall in the company’s share price on the Egyptian Exchange (EGX) and the sharp devaluation of the Egyptian pound.
This partnership underscores the company’s strategic focus on expanding its presence in Egypt’s high-growth real estate market through key collaborations.
Elsewedy, who serves as the company's vice president, holds a 17.76-percent stake —equivalent to 385.6 million ordinary shares.
