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Egypt's Ezz Steel falls 10pc after statement

 CAIRO: Ezz Steel, whose shares tumbled last week after a court jailed its former chairman and ordered two licences be withdrawn, fell 10 percent after the firm issued a statement about the ruling's impact on the Egyptian firm.

The shares were suspended after the fall of 10 percent, according to stock market rules.

In a statement made earlier on Sunday, Ezz Steel said it was considering legal options to confront any impact from the ruling. It also said it was reviewing future investments that had yet to be executed and which could be subject to a temporary freeze.

 

Copyright Reuters, 2011