News Details

Egyptian Iron & Steel (IRON.CA) to Split into Two Entities

01/12/2020

Egyptian Iron & Steel (IRON.CA)’s BOD approves:

  • To spin off its mining operation into a separate company as approved by EGM.
  • To amend IRON’s par value to EGP 1.8/share from EGP 2/share in order to keep the same amount of shares as 976.9mn shares, while the new company will have a par value of EGP 0.20/share, so each share’s holder in IRON will receive  an equivalent share in the new company. Hence, the demerger will have a capital of EGP 1,758.4mn and the demerged will have a capital of EGP 195.4mn. (Company’s BOD)

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