|08 October, 2019

Ezz Steel nods Ezz Aldekhela Steel to acquire 35mln shares of Ezz Flat Steel

Ezz Aldekhela Steel Alexandria will acquire Ezz Flat Steel's shares

ArabFinance: Ezz Steel's (ESRS) Board of Directors (BoD) approved the acquisition of Ezz Aldekhela Steel - Alexandria (IRAX) of 35,290,000 shares from Ezz Steel-owned Ezz Flat Steel Company's share capital.

Ezz Aldekhela Steel - Alexandria will acquire Ezz Flat Steel's shares at the fair value of USD 10.09/share, against credit balances to be utilized in increasing capital of Ezz Aldekhela Steel - Alexandria with the fair value of EGP 1176.85/share - which composed of EGP 1076.85 issuance premium and EGP 100 par value of share without issuance expenses.

Copyright © 2019 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Markets