ArabFinance:  AL Ezz Dekhela Steel - Alexandria (EZDK)  (IRAX) reported a consolidated net loss of EGP 4,643,494,957 in 2019, versus posting a net profit of EGP 647,356,308 in 2019, according to the company’s June 7th financial statements filed to the Egyptian Exchange.

In the Q1 2020, standalone net loss reached EGP 2,230,574,362 in 2019, against net profit of EGP 2,503,425,336 achieved in 2018. 

In February, EZDK got the Financial Regulatory Authority's green light to invite the existing shareholders for subscription in the capital increase shares.

The company will issue 12,175,202 shares at par value of EGP 100 per share with issuance outlays of EGP 1076.85. The issued capital will be hiked from EGP 1,336,441,300 to EGP 2,553,961,500 with an increase amounting to EGP 1,217,520,200.

EZDK is an Egypt-based engaged in the manufacture and production of steel in different types and forms. The company’s direct subsidiaries include Al Ezz Steel Sheet Manufacturing Company, which focuses on the production of the coil and rolled flat steel strips, and Steel Company for Industry, Trade and Contracting Company (Contrasteel), which is focused on the manufacture and trade in all types of metal and metal products.