UPDATE 2-MIDEAST STOCKS-Egypt's Edita jumps on listing; Saudi extends gains

April 2, 2015 8:59 AM

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DUBAI, April 2 (Reuters) - Egyptian foodmaker Edita jumped on its listing in Cairo on Thursday, siphoning liquidity from the rest of the market, while Saudi Arabia's bourse was cautiously positive after oil's Wednesday rally.

Edita, whose public offer this month was heavily oversubscribed, surged 13.5 percent from its offer price to 21.00 pounds and dominated trading volumes in Egypt. The company said on Wednesday it targeted sales of more than 2.5 billion Egyptian pounds ($328 million) in 2015.

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