The share of Egypt National Steel Company “Ataqa”, which is included in the Egypt Stock Exchange, exceeded the level of 10.2 pounds for the first time since its launch on the Egypt Stock Exchange, to touch 10.24 pounds per share as the highest closing price in the share history.
The stock broke the barrier of 10.2 pounds for the first time after an unsuccessful attempt to penetrate it on March 17.
The stock increased by 3.52% during the trading on Tuesday’s session, to circulate at 9.99 pounds per share, and the stock achieved a price difference of 34 piasters from its previous price.
The stock was traded through 3.48 thousand trading operations on 23.75 million shares since the beginning of the session, with a value of trading 239.1 million pounds.
The highest price for the share was at that time at 10.24 pounds, while the lowest price was at 9.81 pounds per share.
The price of the share of the Egyptian National Steel Company – Ataka after the company announced the signing of a memorandum of understanding between Al -Wahda Industrial Development Company, one of Al -Jarhi Group companies and Al -Arjani Group, to acquire a stake in “Ataka”.
The company explained that the Memorandum of Understanding includes that Al -Arjani Group submit an offer to acquire 26.25% of the shares of the National Steel Company – Ataka of Al -Jarhi Group, at a value of 1.9 billion pounds, after completing the procedures for the exact examination of ignorance.
The company added that the two parties are studying several opportunities for cooperation, in line with the state’s directions towards localizing the Egyptian industry.
The company achieved profits of 695.8 million pounds during the period from January to the end of September 2024, compared to profits of 596.5 million pounds in the same period in 2023.
The company’s sales increased during the first nine months of this year to 3.7 billion pounds, compared to sales of 1.7 billion pounds in the same period last year.
The National Steel Egypt “Ataka” is one of the leading companies in the iron and steel industry in Egypt, and was established in 1995, and it is part of Al -Jarhi Group, and it is characterized by the production of high -quality reinforcing steel using the latest equipment and advanced technologies.
