Cairo – Mubasher: The board of Misr National Steel (Ataqa) recommended the voluntary delisting of the company from the Egyptian Exchange, Ataqa said.
An extraordinary general meeting will be held to consider the voluntary delisting proposal.
The board of directors ascribed this decision to the restructuring process that Solb Misr Group will see.
However, the delisting will not negatively affect the company’s financial position as only 10% of shares are floated. In case that shareholders raise objections, the company will buy their shares as per regulation, the company said.
The buyback of these shares will be self-financed, the company added, pointing that the delisting will be applied within three months as of EGM’s approval.
