Pan-emerging markets private equity firm Actis has sold a 15 percent stake in Edita Food Industries, an Egypt-based snack food company, through an oversubscribed initial public offering (IPO) on the Egyptian Exchange and the London Stock Exchange. Actis sold 54.4 million shares in the offering at a price of EGP18.5 (approximately US$2.43) per share, for total proceeds of EGP1.0 billion (approximately US$131.5 million). The sale represents half of Actis’s total stake in the company, and was structured through the Actis Emerging Markets 3 and Actis Global 4 funds. The sale is subject to final completion.