Stock market stops trading on Ezz steel shares

The Egyptian stock market froze trading on shares of Ezz Steel Tuesday until the company responds to the stock market’s inquiries regarding a report that a bank had stopped disbursing around US$148 million for the company.

Steel tycoon Ahmed Ezz, owner of the group, is currently held in Tora prison on corruption and profiteering charges.

The group has yet to respond to freeze.

Edited translation from Al-Masry Al-Youm

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