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.
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