Ahmed Ezz's Stake In Steel Company Nears 1 Billion

Ahmed Ezz's stake in Ezz Steel has surged nearly 58.66 million, bringing his holdings closer to 1 billion.

Ezz Steels market capitalization reached 1.4 billion, driven by a 6.27 rise in stock price and robust production capacity.

Ezz Steel outperforms with a 20.23 year-to-date gain, reflecting strong investor confidence and a promising outlook for Egypts steel sector.

Egyptian steel tycoon, Ahmed Ezz, has seen the market value of his stake in Ezz Steel, the Middle Easts largest steel producer, climb closer to the 1 billion mark following a recent surge in stock prices on the Egyptian Exchange EGX . This increase has not only added to Ezz's wealth but also reinforced his position as a key player in the region's industrial landscape.

Ezz, who owns 66.45 percent of Ezz Steelequivalent to 364,047,977 sharessaw the value of his holdings rise by EGP2.97 billion 58.66 million, bringing the total value of his stake to 994.42 million. This marks a significant rebound from the previous month, when his stake had dropped to 963.44 million , highlighting a clear recovery in his financial standing.

Ezz Steel, the largest steelmaker in the Middle East and North Africa MENA, boasts a robust production capacity of 7 million metric tons annually, outpacing regional competitors like Saudi Arabias Hadeed and the UAEs Emirates Steel. The company continues to dominate Egypts steel market, driven by strong local demand and its strategic export operations.

Recently, Ezz Steel's stock saw a notable increase , rising 6.27 percent from EGP130 2.57 on March 17 to EGP138.15 2.73. This uptick pushed the company's market capitalization to over 1.4 billion. The surge highlights a growing investor confidence in Egypts industrial sector, supported by steady local demand and a favorable economic environment.

Over the past 16 days, Ezzs wealth has seen a steady rise, with the value of his stake climbing from EGP47.33 billion 935.76 million to EGP50.29 billion 994.42 million. This growth has helped recover losses from earlier, cementing his role as a key figure in Egypts steel industry.