Egyptian Iron and Steel (Egyptian Iron & Steel) News - Mubasher Info
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01 September 04:14 AM

Egyptian Iron and Steel (IRON)

Last update: 31 August 01:28 PM market time.
30.91
1.46
4.96%
Open 29.45
Previous Close 29.45
High 30.92
Low 29.11
Stock Statistics
Volume 422,923
Turnover 12,813,894.00
All data are 15 minutes late during market session

News

Mostafa Hassan Mahmoud has been appointed as the company's liquidator
14 October 2021 01:09 PM Hadisolb incurs EGP 590m loss in five months
Cairo – Mubasher: The ordinary general meeting (OGM) of the Egyptian Iron and Steel (Hadisolb) approved the financial position for the period ended 31 May and the liquidation balance from 1 January to 31 May with a net loss of EGP 590.31 million.  …
General Assembly
The minimum amount of total rewards and benefits is EGP 225,000.
30 September 2021 02:15 PM Egypt inks end-of-service deal with Hadisolb's workers
Cairo – Mubasher: Egypt's Minister of Public Business Sector, Hisham Tawfik, and Minister of Manpower, Mohamed Saafan, witnessed the signing of an end-of-service benefit agreement with the employees of the under-liquidation Egyptian Iron and Steel …
Macroeconomics
The liquidation process is expected to be complete in two years
22 June 2021 11:34 AM Ukrainian firm offers to develop, manage Hadisolb
Cairo - Mubasher: The Egyptian Iron and Steel (Hadisolb) has received a technical and financial offer from a Ukrainian company to rehabilitate, develop, and manage the steel manufacturing firm, currently under-liquidation, under a revenue-sharing …
Company News
Hadisolb decided to liquidate its steel plant and spin off its mining operations
1 June 2021 11:35 AM Iron and Steel for Mines and Quarries begins operations at iron concentration unit
Cairo – Mubasher: The board of directors of Iron and Steel for Mines and Quarries approved the establishment of a cost centre for the semi-industrial iron concentration unit in Bahariya Oasis in partnership with a Ukrainian company. Operations at …
Corporate Actions
The liquidation process is expected to take up to two years
31 May 2021 05:22 PM Hadisolb hires liquidator, halts all factories except oxygen plant
Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) has appointed Mostafa Hassan Mahmoud Omar, the former liquidation consultant at the Metallurgical Industries Holding Co, as a liquidator as of 31 May. The Metallurgical Industries Holding Co …
Corporate Actions
The revenues retreated to EGP 776.23 million in the period ended 31 March
26 May 2021 00:20 PM Hadisolb's loss falls to EGP 724m in nine months
Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) suffered net losses of EGP 724.14 million in the first nine months of fiscal year (FY) 2020/2021, down by 7.6% year-on-year (YoY) from EGP 783.84 million, the unaudited financial results …
Financial Results
The share’s nominal value was cut to EGP 1.8 from EGP 2.
26 May 2021 11:25 AM EGX approves reducing Hadisolb's capital
Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee decided to slash the issued capital of the Egyptian Iron and Steel (Hadisolb) as a result of the company’s decision to spin out its mining operations to Iron and Steel for Mines and …
Corporate Actions
Shares will be listed with an issued and paid-up capital of EGP 195.374 million
26 May 2021 10:56 AM EGX approves listing shares of Iron and Steel for Mines and Quarries
Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved the listing of shares of Iron and Steel for Mines and Quarries, the spinoff company of the Egyptian Iron and Steel (Hadisolb). The company’s shares will be listed with an …
Corporate Actions
Hadisolb’s issued capital was reduced to EGP 1.758 billion
25 May 2021 10:35 AM EGX halts trading on Hadisolb
Cairo – Mubasher: The Egyptian Exchange (EGX) decided to suspend trading on the shares of the Egyptian Iron and Steel (Hadisolb) starting from Tuesday’s trading session, according to a statement. On Monday, Hadisolb submitted a request to halt …
Trading Activities
Hadisolb’s issued capital was reduced to EGP 1.758 billion
24 May 2021 00:01 PM Hadisolb asks for trading suspension to list shares of spin-off firm
Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) submitted a request to halt trading on its shares starting from the trading session on Tuesday, 25 May, to allow the company to spin out its mining operations to Iron and Steel for Mines and …
Trading Activities
Hadisolb decided to liquidate its steel plant and spin off its mining operations
20 May 2021 05:53 PM FRA approves registering Iron and Steel for Mines and Quarries
Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the registration of Iron and Steel for Mines and Quarries, the spinoff company of the Egyptian Iron and Steel (Hadisolb). The authority also approved the publication of …
Corporate Actions
The company is on track for liquidating the steel plant
10 May 2021 01:32 PM Metallurgical Industries Holding ends talks over Sahara Group's finance offer
Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) said that its parent company, Metallurgical Industries Holding Co, terminated discussions over an offer submitted by Sahara Group to finance the development of the iron and steel plant. …
Corporate Actions
Local sales reached EGP 70 million during March
9 May 2021 00:33 PM Hadisolb achieves EGP 816m revenue in 10 months
Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) generated EGP 816.24 million in commercial activity revenues during the first 10 months of fiscal year (FY) 2020/2021. Local sales reached EGP 70 million during March and no exports were …
Financial Results
Procedures are underway to list the shares of its mining spinoff in the central registry
21 April 2021 01:03 PM Hadisolb denies receiving $400m letter of guarantee from Sahara Group
Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) denied news reports about receiving a letter of guarantee worth $400 million from Sahara Group. Sahara Group has neither submitted the required documents nor presented the foreign technical …
Corporate Actions
Local sales amounted to EGP 45 million during January
17 March 2021 00:56 PM Hadisolb achieves EGP 683m revenue in eight months
Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) generated EGP 682.8 million in activity revenues during the first eight months of fiscal year 2020/2021. Local sales amounted to EGP 45 million during January and no exports were reported …
Financial Results
Local sales and exports amounted to EGP 107 million in December 2020
21 February 2021 03:44 PM Hadisolb generates EGP 619m revenue in seven months
Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) achieved EGP 619.05 million in activity revenues during the first seven months of fiscal year 2020/2021. Local sales and exports amounted to EGP 107 million during December 2020, the company …
Financial Results
The steel manufacturer’s revenues fell to EGP 555.28 million
7 February 2021 01:23 PM Hadisolb's loss narrows to EGP 437m in H1-20/21 initial results
Cairo – Mubasher: The financial indicators of the Egyptian Iron and Steel (Hadisolb) showed net losses of EGP 437.05 million in the first half (H1) of fiscal year 2020/2021, down by 8.6% year-on-year (YoY) from EGP 478.18 million. The steel …
Financial Results
Accumulated losses of Hadisolb reached EGP 8.5 billion on 30 June 2020
27 January 2021 05:15 PM Hadisolb's stock plunges 40% since liquidation announcement
By: Heba El-Kordy  Cairo – Mubasher: The stock of the Egyptian Iron and Steel (Hadisolb) lost about 40.2% since the announcement of its liquidation decision on 13 January. At the end Wednesday’s trading session, Hadisolb’s fell by 5.51% to EGP …
Trading Activities
Local sales and exports amounted to EGP 116.3 million
24 January 2021 11:41 AM Hadisolb's revenues hit EGP 555m in H1-20/21
Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) achieved EGP 554.87 million in activity revenues during the first half (H1) of fiscal year 2020/2021. In addition, local sales and exports amounted to EGP 116.3 million in the July-December …
Financial Results
Hadisolb incurred net losses of EGP 274.48 million in three months
17 January 2021 04:35 PM Ministry of Public Business Sector responds to critics of Hadisolb’s liquidation
Cairo – Mubasher: The Egyptian Ministry of Public Business Sector reviewed the attempts made to prop up the loss-making Egyptian and Iron Steel (Hadisolb) before the liquidation decision. In 2014, the company’s parent, Metallurgical Industries …
Macroeconomics
The equity rights of the resulting company amounted to EGP 195.58 million
17 January 2021 02:02 PM Hadisolb reveals proforma financial results of demerged, resulting companies
Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) announced the proforma financial statements of the demerged and resulting companies for fiscal years 2017/2018, 2018/2019, and 2019/2020. The equity rights of the resulting company amounted …
Financial Results
The liquidation will be based on the company’s financial position as of 31 December 2020.
13 January 2021 00:18 PM Hadisolb approves liquidation, disposal of lands to settle debt
Cairo – Mubasher: The ordinary general meeting (OGM) of the Egyptian Iron and Steel (Hadisolb) approved the disposal of several land plots to settle debts owed to Metallurgical Industries Holding Co and Banque Misr, and part of the debt owed to …
Corporate Actions
Shareholders reportedly approved a decision to liquidate its steel plant
12 January 2021 00:32 PM EGX halts trading on Hadisolb's stock
Cairo – Mubasher: The Egyptian Exchange (EGX) announced the halt of trading on the shares of the Egyptian Iron and Steel (Hadisolb) pending an announcement of the extraordinary general meeting’s (EGM) decisions. Trading on the company’s shares …
Trading Activities
Hadisolb incurred net losses of EGP 274.48 million in three months
12 January 2021 10:55 AM Hadisolb to liquidate steel plant, spin off mining operations
Cairo – Mubasher: The extraordinary general meeting (EGM) of the Egyptian Iron and Steel (Hadisolb), a subsidiary of the Ministry of Public Business Sector, decided to liquidate its steel plant and spin off its mining operations, Ahram Gate …
Corporate Actions
Hadisolb incurred net losses of EGP 274.48 million in three months
3 January 2021 01:32 PM Hadisolb approves land valuation at EGP 1.23bn to settle debt
Cairo – Mubasher: The Egyptian Iron and Steel (Hadisolb) approved valuation reports of its land plots as part of a debt settlement process. These lands have been valued based on debt settlement protocols between Hadisolb, Metallurgical Industries …
Company News