Egyptian Iron + Steel mining spinoff inches closer to listing

The listing of Egyptian Iron and Steel’s mining spinoff edged closer last week after the Financial Regulatory Authority (FRA) gave the all-clear for the company’s registration and trading on the EGX, the regulator said in a bourse filing (pdf). The EGX is yet to announce a date for when the new company’s shares will be listed. Egyptian Iron and Steel is being liquidated in a two-year process that includes spinning off its mining operations into Iron and Steel for Mines and Quarries.