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Ezz Steel trade suspended until further notice: bourse

Stock exchange requests disclosure of steelmaker's assets amid graft allegations

Reuters , Wednesday 23 Mar 2011
Views: 2159
Views: 2159

Trade in Ezz Steel, Egypt's largest steelmaker, has been suspended until its ownership and financial position are clarified, the bourse said on Wednesday.

Chairman Ahmed Ezz, who was a top official in ousted president Hosni Mubarak's party, is now being investigated for graft. He has been detained since 17 February pending trial on suspicion of squandering public funds.

The stock exchange requested disclosure of assets linked to ongoing investigations, it said in a statement. Ezz Steel and Amer Group are two eminent companies on which trade of shares has been suspended.

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