Sector News

Cairo – Mubasher: Al Ahly Capital Holding Co has sold its entire stake of 5.77% in Al Ezz Dekheila Steel – Alexandria after selling 771,680 shares. The total value of the deal amounted to EGP 726.52 million at an average price of EGP 941.4 per …

Cairo – Mubasher: Al Ezz Dekheila Steel – Alexandria said that a transaction worth EGP 726.521 million was executed on the company’s shares through block trading. The deal saw the trading of 771,680 shares, the company said in a statement to the …

Cairo – Mubasher: The unaudited standalone financial results of Al Ezz Dekheila Steel – Alexandria showed a turn to losses during the first nine months of 2019. The company incurred net losses of EGP 462 million in the January-September period, …

Cairo – Mubasher: The board of directors of the Egyptian Iron and Steel (Hadisolb) approved an addendum to protocol of cooperation with Banque Misr to settle the company’s debts. About 50% of the protocol, which states the transfer of ownership of …

Cairo – Mubasher: The mandatory tender offer (MTO) for Al Ezz Rolling Mills (ERM), owned by Ezz Steel, was executed on the Egyptian Exchange (EGX). Al Ezz Dekheila Steel – Alexandria has purchased 89.8 million shares, including 100,000 shares …

Cairo – Mubasher: Asec Company for Mining (ASCOM) reported a 78% year-on-year drop in its net losses during the first nine months of 2019 on the back of rising revenue, the company's consolidated financial statements showed.  The company suffered …

Cairo – Mubasher: The unaudited financial results of the Egyptian Iron and Steel  (Hadisolb) showed a 106% year-on-year increase in its net losses during the first quarter of fiscal year 2019/2020. Net losses widened to EGP 367.8 million during …

Cairo – Mubasher: The board of directors of Ezz Steel approved the sale of its 88.92 million shares in Al Ezz Rolling Mills (ERM) in exchange for increasing its shares in Al Ezz Dekheila Steel – Alexandria. For share swap ratio, every 51 shares of …

Cairo – Mubasher: Egyptian Iron and Steel (Hadisolb) announced that its local sales dipped by 39.5% year-on-year during the first quarter of fiscal year 2019/2020. Local sales retreated to EGP 179.93 million in the July-September period, compared …

Cairo – Mubasher: Ezz Steel announced that its shares in Al Ezz Flat Steel Co (EFS) have been sold over the counter (OTC) to Al Ezz Dekheila Steel – Alexandria for $356.066 million (EGP 5.74 billion). The deal involved the sale of 35.289 million …

Cairo – Mubasher: Misr National Steel (Ataqa) announced that its net profits for the first nine months of 2019 stood at EGP 53.16 million, falling by 72% year-on-year from EGP 187.33 million. The Egyptian company’s sales tumbled to EGP 1.44 …

Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved to publish the disclosure form of the mandatory tender offer (MTO) submitted by Al Ezz Dekheila Steel – Alexandria to fully acquire El Ezz Rolling Mills (ERM), owned by …

Cairo – Mubasher: The adjusted unaudited financial results of the Egyptian Iron and Steel (Hadisolb) showed a 69.7% year-on-year increase in its losses during fiscal year 2018/2019. Hadisolb suffered net losses of EGP 1.526 billion during the …

Cairo – Mubasher: Rakta Paper Manufacturing Company reported a 19% year-on-year increase in losses at EGP 27.8 million during the first quarter of the fiscal year 2019/2020, compared to EGP 23.4 million a year earlier.      Revenues dropped to EGP …

By: Heba El-Kordy Cairo – Mubasher: The ordinary general meeting (OGM) of the Egyptian Iron and Steel (Hadisolb) rejected the adoption of the financial statements for fiscal year 2018/2019, in light of the notes submitted by the Central Auditing …

Cairo – Mubasher: Egypt Aluminum announced that its shareholders approved raising the cash dividend distribution for fiscal year 2018/2019 to EGP 0.75 per share from the proposed EGP 0.50 during an ordinary general meeting (OGM), according to a …

Cairo – Mubasher: Misr National Steel (Ataqa) said that the decision to impose fees on imported iron billets and steel rebar will increase the cost of production by 16%, according to a bourse disclosure on Monday. Previously, the Egyptian minister …

Cairo – Mubasher: Asec Company for Mining (ASCOM) announced that subscription to its issued capital increase was covered by 100%. The second phase of subscription included about 3.6 million shares, while the first phase involved 4.3 million …

Cairo – Mubasher: Ezz Steel announced turning to losses during the first half of 2019, the company’s consolidated financial statements showed. The Egyptian firm suffered net losses of EGP 2.46 billion during the six-month period ended 30 June, …

Cairo – Mubasher: Egyptian Iron and Steel (Hadisolb) announced that the Egyptian government’s decision to slash prices of natural gas to $5.5 per one million British thermal units (BTU) from $7 will save the company EGP 225 million annually. …

Cairo – Mubasher: Al Ezz Dekheila Steel – Alexandria announced turning to losses during the first half of 2019, the company’s consolidated financial statements showed. The company incurred net losses of EGP 1.258 billion in the six-month period …

Cairo – Mubasher: The modified unaudited financial results of the Egyptian Iron and Steel (Hadisolb) recorded a 62.89% year-on-year rise in its losses during fiscal year 2018/2019. The company incurred net losses of EGP 1.465 billion in the …

Cairo – Mubasher: The unaudited standalone financial results of Al Ezz Dekheila Steel – Alexandria showed a turn to losses during the first half of 2019. The iron and steel firm incurred net losses of EGP 30 million in the January-June period of …