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EGX approves to register iron and steel mines, with a capital of EGP 195.3 million

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EGX approves to register iron and steel mines, with a capital of EGP 195.3 million




The Securities Listing Committee of the Egyptian Stock Exchange decided to list the shares of the Iron and Steel Company for Mines and Quarries, a split company emerging from the division of the Egyptian Iron and Steel Company into two “divided and divided” companies.



The Egyptian Stock Exchange clarified, in a statement on Wednesday, that iron and steel mines will be registered with issued and fully paid capital of 195.374 million pounds, divided into 976.872 million shares, with a nominal value of 0.20 pounds per share, in the listing of Egyptian securities (shares).



She indicated that the company was divided according to the method of horizontal division in the book value of the share, and the financial statements for the fiscal year ending last June were taken as the basis for the date of the split.



She said that the company’s shares will be listed on the stock exchange database as of the end of the trading session tomorrow, Thursday, after completing the period of publishing the registration request of 5 working days in accordance with the provisions of Article No. (20) of the rules for registration and delisting of securities as follows: (p. 1) 976,872,278 shares 0.20 Egyptian Pound = 195,374,455.60 Egyptian Pound.



The Stock Exchange affirmed that the company shall be committed to publishing the disclosure report of the split company prepared in implementation of Article 138 of the executive regulations of Law 159 of 1981 approved by the Financial Supervisory Authority.