Three of Arisaig’s subsidiaries have collectively acquired 938,500 global depository receipts (GDRs) – or shares – in Edita Food Industries at a total value of $4.1 million.
Arisaig Global Emerging Markets Consumer Fund Limited purchased 604,400 ordinary shares, while Arisaig Africa Consumer Fund Limited bought 302,000 shares, and Arisaig Global Emerging Markets UCITS Fund purchased 31,900 shares at $4.4 per share or GDR.
Accordingly, Arisaig Global Emerging Markets Consumer Fund Limited has raised its stake to 3.47% from 3.05% in Edita, while Arisaig Africa has raised its stake to 1.62% from 1.41%, according to a filing by Edita to the Egyptian Exchange (EGX) on Sunday.
Combined, Arisaig and its subsidiaries collectively own 4.79% of EGX-listed Edita.
Edita last reported EGP 7.05 million in profits for the third quarter of 2017, registering a sharp decline from EGP 48.09 million in the year-ago period.
By 10:22 am Cairo time, Edita’s stock shed 0.36% to EGP 16.45.