Shares of EZZ Steel - ESRS and EL EZZ Aldekhela Steel - IRAX surged following news published on Asharq Bloomberg regarding the Egyptian Sovereign Fund receiving a valuation for El Ezz Aldekhela Steel - IRAX. Citing an anonymous source, the report stated that the company's valuation is approximately EGP 1060 per share, representing a premium of over 25% compared to the share's trading price on the stock exchange. While neither EZZ Steel nor the Egyptian Sovereign Fund has confirmed the news.
EZZ Steel rose by around 8%, while Ezz Al Dekhela rose by around 6% during the first 45 minutes of the session
Comments