January 14, 2021

Liquidating Hadisolb’s plant boosts Ezz Steel, EZDK: Prime


ArabFinance: The liquidation of Egyptian Iron and Steel’s (Hadisolb) steel factory in Helwan would leave Ezz Steel and its 55%-owned subsidiary Al Ezz Dekheila (EZDK) as the two key steelmakers listed on the Egyptian Exchange, Prime Research said on January 12th.

This step is also expected to open the door for future merger and acquisition activity “as part of a sector-wide consolidation wave that we think could be in the making,” Prime added.

Meanwhile, splitting Hadisolb firm would “stop the hemorrhaging” of the stock value, according to the research entity.

Prime believed that this move would free Hadisolb’s new mines and quarries firm to create value for its shareholders through better utilization of assets.

arabfinance


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