El Wehda for Industrial Development announced that it has decreased its shares in Misr National Steel – Ataqa, one of Egypt’s leading steel producers. As the main shareholder, the company reduced its stake in Ataqa from 90.17% to 89.04%. The total shares sold amounted to 13.62 million, with a transaction value of approximately EGP 155.4 million (USD 3.26 million). The sale was executed at an average price of EGP 11.41 (USD 0.24) per share.
Financially, Ataqa showed a strong performance in the first quarter of 2025. The company’s net profit increased by approximately 70% compared to the same period last year, reaching EGP 103.9 million (USD 2.19 million), while sales revenue nearly doubled to EGP 2.02 billion (USD 42.4 million).
Ataqa, as one of Egypt’s prominent steel producers, continues to grow in both domestic and export markets, attracting increasing interest from investors.
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