Cairo – Mubasher: HSBC Securities Egypt Company announced that HSBC Bank PLC has reduced its stake in Ezz Steel to 4.82% from 5.07%.

HSBC Bank PLC has sold 1.3 million shares for a total value of EGP 14.2 million or EGP 10.86 per share, the company disclosed to the Egyptian Exchange (EGX) on Thursday.

It is worth mentioning that during the first quarter of 2019, Ezz Steel incurred net losses worth EGP 1.27 billion versus EGP 184 million profits in Q1-18.