ArabFinance: The Financial Regulatory Authority (FRA) will consider amending the involuntary listing rules of companies under liquidation, according to a statement filed to the Egyptian Exchange (EGX).

Moreover, the FRA will cooperate with the EGX and Misr for Central Clearing, Depository, and Registry (MCDR) to modify the rules of trading on stocks of companies under liquidation.

This follows the announcement by Metallurgical Industries Holding Co in a statement dated November 29^th, 2021, regarding the due debts on the under liquidation company Egyptian Iron and Steel (HADISOLB) (IRON).

HADISOLB’s due debts as of May 31^st, 2021, amounted to EGP 9 billion and is expected to increase by around EGP 2.25 billion that represents compensations for employees.

The land plot owned by the company has not been evaluated yet and it will be evaluated by three specialized offices.

Accordingly, it has been decided to cancel all the carried-out transactions on HADISOLB’s stock during December 1^st’s trading session.

Egyptian Iron and Steel, an affiliated company of Metallurgical Industries Holding, is an Egypt-based public shareholding company engaged in the exploitation, production, and trade of iron and steel products.

The company provides two product segments, major products, and other Products.