Cairo – Mubasher: The board of Misr National Steel (Ataqa) backed down on its decision over the voluntary delisting of the company from the Egyptian Exchange, according to a bourse filing.

Cairo – Mubasher: The board of Misr National Steel (Ataqa) backed down on its decision on the voluntary delisting of the company from the Egyptian Exchange, according to a bourse filing.

The board's decision came after the lending banks didn't approve the delisting, the filing clarified.

Earlier, the board recommended the voluntary delisting of the company from the Egyptian Exchange as a step towards restructuring the group.

At that time, the board assured that the delisting will not negatively affect the company’s financial position as only 10% of shares are floated.