NEW YORK and LONDON, April 2,
2015 /PRNewswire/ -- BNY Mellon, a global leader in
investment management and investment services, has been selected as
depositary bank by Edita Food Industries S.A.E. for the listing and
offering of its global depositary receipts (GDRs). Each Edita GDR
represents five common shares. Edita's ordinary shares trade on the
Egyptian Exchange under the symbol "EFID.CA" and its GDRs trade on
the London Stock Exchange Professional Market under the symbol
"EFID."
The new listing marks the first GDR capital raising by an
Egyptian company since 2008.
"Given renewed investor interest in Egypt and the Middle
East, Edita Foods decided to raise its corporate profile and
list its shares in GDR form on the London Stock Exchange," said
Hani Berzi, Chairman and Chief Executive Officer of Edita Food
Industries. "We are pleased to select BNY Mellon as our depositary
bank, as their commitment and experience in the Egyptian market
will help us to enhance Edita's visibility throughout the global
financial markets and increase foreign investor interest in our
company. We look forward to our new relationship together."
Founded in 1996, Edita is an Egyptian packaged snack food
company and one of the leading food manufacturers in Egypt and the Middle
East. Operating four production facilities, Edita has
focused on baked snack products such as cakes, croissants and rusks
(baked wheat), and recently expanded into the wafers and candy
segments. The company's brands include Molto, TODO, Bake Rolz, Bake
Stix, Mimix, HoHo's, Twinkies and Tiger Tail – names familiar to
consumers in Egypt and more than
20 other markets across the Middle
East and Africa. Edita also
acts as sole regional distributor of several brands of imported
sweeteners, olive oils and pasta.
"Egyptian issuers are returning to the global capital markets
for the first time in years, and that's a welcome sign to the
region as well as to investors," said Christopher M. Kearns, CEO of BNY Mellon's
Depositary Receipts business. "We'll work closely with Edita on a
broad outreach to the investment community via this new GDR
program. As the leading depositary bank in Egypt and the Middle
East, we've helped many issuers in the region raise their
profile with foreign investors."
BNY Mellon has been conducting business in the Middle East and Africa for over 100 years. BNY Mellon acts as
depositary for more than 2,800 American and global depositary
receipt programs as of Dec. 31, 2014.
Acting in partnership with leading companies from over 65
countries, BNY Mellon is committed to helping securities issuers
access the world's rapidly evolving financial markets and delivers
a comprehensive suite of depositary receipt services. Learn more at
www.bnymellon.com/dr.
BNY Mellon is a global investments company dedicated to helping
its clients manage and service their financial assets throughout
the investment lifecycle. Whether providing financial services for
institutions, corporations or individual investors, BNY Mellon
delivers informed investment management and investment services in
35 countries and more than 100 markets. As of Dec. 31, 2014, BNY Mellon had $28.5 trillion in assets under custody and/or
administration, and $1.7 trillion in
assets under management. BNY Mellon can act as a single point of
contact for clients looking to create, trade, hold, manage,
service, distribute or restructure investments. BNY Mellon is the
corporate brand of The Bank of New York Mellon Corporation (NYSE:
BK). Learn more at www.bnymellon.com, or follow us on Twitter
@BNYMellon.
Edita's GDRs and the underlying ordinary shares have not been
and will not be registered under the U.S. Securities Act of 1933
and may not be offered or sold in the U.S., without registration or
an applicable exemption from the registration requirements.
This release is for informational purposes only. BNY Mellon
provides no advice nor recommendation or endorsement with respect
to any company or securities. Nothing herein shall be deemed to
constitute an offer to sell or a solicitation of an offer to buy
securities. Depositary Receipts: Not FDIC, State or Federal Agency
Insured; May Lose Value; No Bank, State or Federal Agency
Guarantee. BNY Mellon provides no advice nor recommendations or
endorsement with respect to any company, security or products based
on any index licensed by BNY Mellon, and we make no representation
regarding the advisability of investing in the same.
Contact:
Joseph F. Ailinger Jr
+1 617-722-7571
joe.ailinger@bnymellon.com
Malcolm
Borthwick
+44 20 7163
4109
malcolm.borthwick@bnymellon.com
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SOURCE BNY Mellon