Cairo – Mubasher: The board of Edita Food Industries has approved to decrease the capital by around 3% from EGP 144.61 million to EGP 140 million, according to a bourse disclosure.

The company will carry out the capital cut transaction by cancelling 23.04 million treasury shares at a par value of EGP 0.20 per share.

The decision came during the board meeting which was held on 10 October 2023, which included the addition of toll manufacturing as a new activity of Edita.

Earlier in October this year, the listed company secured a long-term loan worth $45 million from the International Finance Corporation.

In September, Edita announced medium-term financing agreements at a total value of EGP 390 million to endorse an acquisition transaction and boost investments.