Al Ezz Dekheila Steel Co – Alexandria (EZDK) has obtained a $125 million loan from Emirates NBD to finance the purchase of the government’s stake in the company.

Al Ezz Dekheila Steel Co – Alexandria’s (EZDK) board has approved the voluntary delisting of the company’s shares from the Egyptian Exchange (EGX).

Al Ezz Dekheila Steel Co – Alexanderia’s (EZDK) consolidated net losses after tax amounted to EGP 2.351 billion in the first quarter (Q1) of the current year, versus net profits of EGP 1.190 billion in Q1 of last year.

Ezz Steel (ESRS) has denied submitting any offer to purchase any additional stakes in Al Ezz Dekheila Steel Co – Alexandria (EZDK).

The state-owned National Investment Bank (NIB) and National Bank of Egypt (NBE) own 14% of Al Ezz Dekheila Steel’s shares, while Ezz Steel holds a 64% stake in the company, with the rest of the shares are being traded on in the EGX.

Ezz Steel (ESRS) announced that it has not submitted any offer to purchase the government's stake in its subsidiary Al Ezz Dekheila Steel Co – Alexandria (EZDK).

Ezz Steel is an Egypt-based manufacturer and trader of steel and related products. Together with its subsidiaries, the company is engaged in the manufacture, trade, and distribution of iron and steel products of all kinds and associated services.

Al Ezz Dekheila Steel Co – Alexanderia (EZDK) posted a 10.1% year-on-year (YoY) increase in its consolidated net profits after tax and non-controlling interest in 2022, recording EGP 6.4 billion, compared to EGP 5.81 billion.