Actis has exited half of its stake in Edita Food Industries via the company's IPO on the Egyptian (EGX) and London (LSE) stock exchanges. The company debuted on the secondary markets at EGP18.5 ($2.42) per share, representing a total market cap of EGP6.7 billion ($880 million). Founded in 1996, Edita manufactures, markets and distributes branded baked snack products including packaged cakes, croissants and wafers. Its brand portfolio includes Twinkies, Molto and Hohos. Actis had acquired a 30% stake in the company in June 2013 for $102 million.