Cairo – Mubasher: The Egyptian Exchange (EGX) decided to suspend trading on the shares of the Egyptian Iron and Steel (Hadisolb) starting from Tuesday’s trading session, according to a statement.
On Monday, Hadisolb submitted a request to halt trading on its shares to allow the company to spin out its mining operations to Iron and Steel for Mines and Quarries.
According to a statement by the EGX on Sunday, Hadisolb’s authorised capital amounts to EGP 2 billion and the issued capital was reduced to EGP 1.758 billion distributed over 976.872 million shares at a nominal value of EGP 1.8 apiece.
The authorised capital of Iron and Steel for Mines and Quarries stands at EGP 500 million, while the issued capital reaches EGP 195.374 million distributed over 976.872 million shares at a nominal value of EGP 0.20 apiece.
