{"id":604044,"date":"2023-08-24T00:00:00","date_gmt":"2023-08-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/24\/egx-approves-al-ezz-dekheila-delisting-plus-news-on-corn-east-port-said-microsoft\/"},"modified":"2023-08-24T00:00:00","modified_gmt":"2023-08-24T00:00:00","slug":"egx-approves-al-ezz-dekheila-delisting-plus-news-on-corn-east-port-said-microsoft","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/24\/egx-approves-al-ezz-dekheila-delisting-plus-news-on-corn-east-port-said-microsoft\/","title":{"rendered":"EGX approves Al Ezz Dekheila delisting. PLUS: News on corn, East Port Said, Microsoft"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> PRIVATIZATION- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Al Ezz Dekheila cleared for delisting: <\/strong> The EGX\u2019s listing committee has approved the delisting of the shares of steelmaker Al Ezz Dekheila Steel, according to an <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/8\/1112.pdf\" style=\"\" rel=\"noopener\">EGX disclosure (pdf)<\/a> yesterday. Al Ezz Dekheila shareholders <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e014590b-db6a-482f-a04a-3a899f12eaef\" style=\"\" rel=\"noopener\">earlier this month<\/a> approved the voluntary delisting of the steel manufacturer from the EGX, alongside a plan to buy the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7ace4d4a-08f1-4f2e-bc12-15379d392de7\" style=\"\" rel=\"noopener\">31% stake<\/a> in the company previously owned by the government. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> REMEMBER- <\/strong>Al Ezz Dekheila <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4d82f1f7-7449-4dbd-a811-8a61f731bbf2\" style=\"\" rel=\"noopener\">plans to retire<\/a> all of the freefloat shares acquired from the government, leaving parent company Ezz Steel with almost full ownership of the now-private company \u2014 and potentially 100% control depending on how many minority shareholders decide to sell their shares. Ezz Steel is extending a payment guarantee worth up to USD 250 mn to finance the voluntary delisting of its subsidiary.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> INFRASTRUCTURE- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The SCZone just put a price on the new East Port Said port terminal: <\/strong> The new 900-meter multipurpose terminal being developed by Sky Logistics and Reliance Logistics at East Port Said port will attract USD 565 mn of investment, SCZone Chairman Walid Gamal Eldin told <a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1694298913459655074?s=20&fbclid=IwAR3nQL4391uYBMGKyf0n05PZI3FE3cB-dV_aMFEwLwbDcXzSJ0CRRPt-sZk\" style=\"\" rel=\"noopener\">Asharq Business<\/a> yesterday. President Abdel Fattah El Sisi this week <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fc7c3428-e05a-4f0f-9d09-acd66bdd77a5\" style=\"\" rel=\"noopener\">ratified<\/a> a decision awarding the contract to the consortium. A pharma factory will be established in the SCZone in Sokhna with investments worth USD 100 mn, Gamal Eldin told the news outlet, without providing further information (<a target=\"_blank\" href=\"https:\/\/twitter.com\/AsharqbEGY\/status\/1694298913459655074?s=20\" style=\"\" rel=\"noopener\">watch, runtime: 1:05<\/a>). <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> COMMODITIES- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> GASC scraps int\u2019l corn tender: <\/strong>Egypt\u2019s state grain buyer GASC has canceled an international tender for yellow corn due to the higher prices offered by bidders, <a target=\"_blank\" href=\"https:\/\/www.nasdaq.com\/articles\/egypts-gasc-cancels-yellow-corn-tender\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing reports by traders. The deadline for offers was scheduled for yesterday and shipments were set for 1-15 October and 15-30 October. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> TECH- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Microsoft partners with gov\u2019t to fast track digital transformation: <\/strong>Microsoft inked an MoU with the cabinet\u2019s Information and Decision Support Center to train its employees and help integrate AI into its operations, cabinet <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0UmHvGWAfMT6z7muzrxWr7HDfU5gmYPXzWR5qVMPnsAuE6mYMCZf7Exhx9irv49QSl\" style=\"\" rel=\"noopener\">said<\/a> yesterday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Al Ezz Dekheila Steel plans to buy back the government\u2019s 31% stake and delist from the exchange<\/p>\n","protected":false},"author":1,"featured_media":604045,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,317,72,589,550,7196,7111,125,145,7128,462,8757,81,10772,587,416],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-604044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-commodities","tag-enterpriseam","tag-ezz-steel","tag-gasc","tag-industry","tag-infrastructure","tag-investment-watch","tag-logistics","tag-ma-watch","tag-microsoft","tag-ports","tag-privatization-watch","tag-sky-logistics","tag-state-privatization-program","tag-suez-canal-economic-zone","wpautop","entry"],"acf":{"mongo_id":"0c68cb81-a6cc-42b8-b59b-037f59ad0996","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/1155.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EGX approves Al Ezz Dekheila delisting. 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