Egypt .. “Ataka” shares exceeds the level of 7.50 pounds for the first time since the inclusion

The share of Egypt National Steel “Ataka”, which is included in the Egypt Stock Exchange, exceeded the level of 7.50 pounds, up to 11.23% during the trading of the session today, to circulate at the price of 7.74 pounds per share.

36.48 million shares of Egypt National Steel “Ataka” were traded at that time, with a value of trading 259.05 million riyals.

The highest price for the share at that time was at 7.74 pounds per share, while the lowest price per share was at 6.55 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.

It is noteworthy that Egypt National Steel Company – Ataka achieved profits of 695.8 million pounds during the period from January to the end of September 2024, compared to profits amounting to 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.