Edita receives Egypt FRA's approval for capital reduction

Cairo – The Egyptian Financial Regulatory Authority (FRA) approved the publication of a disclosure form submitted by Edita Food Industries to cut its issued capital to EGP 144.61 million from EGP 145.07 million

The disclosure form includes the board’s decision to slash its issued capital by EGP 460,890 through the cancellation of 2.3 million treasury shares, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

Over the course of 2020, Edita logged EGP 347.72 million in net profits, compared to EGP 410.23 million a year earlier, including minority shareholders’ rights.

Source: Mubasher

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