Egyptian mogul Ahmed Ezz gains $35.3 million in 19 days from stake in steelmaker
Ezz is one of the wealthiest men in Egypt.
Ezz is one of the wealthiest men in Egypt.
The multimillion-dollar decline in his stake may be attributed to a sell-off of the company’s shares.
The steelmaker’s share price has surged due to investor cherry-picking activities on the Egyptian Stock Exchange.
The leading steel manufacturer saw its profit grow from a loss of $176.43 million in H1 2020.
The acquisition raised his ownership interest in the company to 65.7 percent from 32.29 percent.
Ezz Steel is the largest steel company in Egypt, the Middle East and North Africa.