Cairo – Mubasher: The Egyptian businessman Ahmed Abdel Aziz Ezz has raised his holding in Ezz Steel to 27.29% from 0.00055%.

The value of the transaction amounted to EGP 836.409 million at an average price of EGP 5.64 per share, according to a bourse disclosure on Wednesday.

Al Ezz Holding Group Industry and Investment currently has a 38.45% stake in Ezz Steel.

It is worth mentioning that during the January-September period of 2019, Ezz Steel incurred net losses of EGP 4.32 billion, up from EGP 326.05 million in the prior-year period, including minority shareholders’ rights.