ArabFinance: Ezz Steel said its shareholder Gamal Abdelkader purchased 1.125 million shares in the company capital, increasing his stake from 4.835% to 5.04%, according to a disclosure filed to the Egyptian Exchange On December 29th.

The deal is valued at EGP 11,337,640 or EGP 10.08 per share.

The company posted a consolidated net loss of EGP 2.773 billion in the January-September 2020, compared to EGP 3.590 billion incurred in the prior-year period.

The National Bank of Egypt is managing a joint loan worth EGP 3.5 billion for the Ezz Steel Group.

Ezz Steel, formerly Al Ezz Steel Rebars Company, is an Egypt-based manufacturer and trader of steel and related products. The company is engaged, together with its subsidiaries, in the manufacture, trade, and distribution of iron and steel products of all kinds and associated services.

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